- Thursday, 15 September 2016
- News
BoE holds interest rates steady
Bank of England policy makers indicated there’s still a chance of another rate cut this year as they assess the potential longer-term fallout from Britain’s decision to leave the European Union. While the nine-member Monetary Policy Committee noted that recent near-term data had been stronger than anticipated since the Brexit vote, it couldn’t draw inferences for its longer-term forecasts. Even though initial reports had been “slightly to the upside” of projections published in August, officials said their view of the “contours of the economic outlook” hadn’t changed.
Read more...- Monday, 12 September 2016
- News
Haldane indicates no negative rates for the UK
It is a steadier beginning of the week, with no major data releases today. Markets are awaiting for other news from the UK this week, especially BoE interest rate decision. One of the Bank of England’s most dovish policymakers has signalled that negative interest rates are not an effective tool to fight a UK economic downturn. Andy Haldane, the Bank’s chief economist, said the current environment of low interest rates had forced central bankers around the world to find different ways to cushion economic shocks.
Read more...- Wednesday, 07 September 2016
- News
Carney defended BoE's stimulus package
Governor Mark Carney defended the Bank of England's major stimulus package of last month as signs grow that the economy has held up better than expected to the initial shock of Britain's vote in June to leave the European Union. Carney also told lawmakers on Tuesday he was "absolutely serene" about the way he warned of a possible Brexit hit to the economy before the referendum, locking horns again with supporters of the victorious "Leave" campaign. Read more...
- Thursday, 04 August 2016
- News
BoE cuts interest rates first time in seven years
Mark Carney unveiled an “exceptional” package of stimulus, including the Bank of England’s first interest-rate cut in seven years, as policy makers slashed growth forecasts by the most ever after Britain’s decision to leave the European Union. Officials led by the governor voted unanimously to reduce the benchmark by 25 basis points to a record-low 0.25 percent. They split over other elements of the stimulus, which expands the central bank’s balance sheet by 170 billion pounds ($223 billion) with purchases of gilts and corporate bonds, and a lending program for banks. “We took these steps because the economic outlook has changed markedly,” Carney told reporters in London on Thursday. “Indicators have all fallen sharply, in most cases to levels last seen in the financial crisis, and in some cases to all-time lows.”
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