- Wednesday, 01 November 2017
- News
Fed keeps rates unchanged, remains on road to December rate hike
The Federal Reserve kept interest rates unchanged on Wednesday and pointed to solid U.S. economic growth and a strengthening labor market while playing down the impact of recent hurricanes, a sign it is on track to lift borrowing costs again in December. "The labor market has continued to strengthen and ... economic activity has been rising at a solid rate despite hurricane-related disruptions," the Fed's rate-setting committee said in a statement after its unanimous policy decision.
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- Thursday, 26 October 2017
- News
ECB Tapers Asset Purchase Program to €30 Billion; Holds Rates Steady
After the European Central Bank (ECB) announced its decision to cut its monthly asset purchases (APP) in half, starting in January, and extend them for another 9 months from the initial deadline at the end of this year, the president of the monetary authority, Mario Draghi, gave an upbeat vision of the euro zone economy but insisted that further quantitative easing was needed in order to reach the ECB inflation target. In the announcement released 45 minutes ahead of Draghi’s appearance, the ECB said that it will begin to reduce monthly purchases in January from the current €60 billion ($70.6 billion) to €30 billion ($35.3 billion) and will extend those purchases to “the end of September 2018, or beyond, if necessary”. It added that it will “reinvest the principal payments from maturing securities purchased under the APP for an extended period of time after the end of its net asset purchases, and in any case for as long as necessary.”
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- Tuesday, 24 October 2017
- News
BoE ready to raise rates
The Bank of England is seriously considering raising rates for the first time in 10 years against a backdrop of lacklustre economic growth, as a Guardian analysis shows the Brexit vote sapping business confidence and hitting household income. As Mark Carney, the Bank’s governor, prepares to hike the cost of borrowing for the first time since 2007 from as soon as next week, key barometers of economic strength are faltering. Nevertheless, City analysts expect Carney and his panel of rate setters on the monetary policy committee to vote for a rate hike on 2 November.
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- Wednesday, 20 September 2017
- News
Fed left interest rates unchanged, one rate hike expected in 2017
Federal Reserve officials set an October start for shrinking their $4.5 trillion stockpile of assets, moving to unwind a pillar of their crisis-era support for the economy. Policy makers left the benchmark interest rate unchanged in a range of 1 percent to 1.25 percent. They continued to forecast one more interest-rate hike later this year, saying storm damage will have only a temporary impact on the economy.
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