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Tuesday, 26 January 2016
News

Draghi said low interest rates were not punishing savers

European Central Bank (ECB) boss Mario Draghi has hit back at critics of the bank's decisions to keep interest rates low and launch a €1.5 trillion (£1.1 trillion) asset purchase programme. Draghi, who last week hinted interest rates might be cut further, said low interest rates were not punishing savers. He said inflation adjusted returns did not tell this story and that a hike in interest rates would "simply push us back into recession and rates would stay lower for longer."
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Tuesday, 26 January 2016
News

BoE Forbes: UK to Hike Rates When Wages Pick Up

The Bank of England (BoE) should begin rising interest rates as soon as wages and unit labor costs begin to increase more, the text of the speech due to be delivered on Tuesday by BoE policymaker and rate-setter Kristin Forbes showed today. "Once this upward momentum in wages and unit costs builds, as I expect it will, then it will be time for the UK to follow the example of its fellow 'city' and begin the slow and gradual process of tightening monetary policy. The relatively smooth experience of 'lift-off' in the US suggests that, at least in this 'Tale of Two Cities', there will not be a revolution," Kristin Forbes will say during her speech to the Henry Jackson Society in Parliament on Tuesday.
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Thursday, 21 January 2016
News

Draghi warns more stimulus may be needed

At today’s meeting the Governing Council of the ECB decided that the interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged at 0.05%, 0.30% and -0.30% respectively.
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Tuesday, 19 January 2016
News

Carney says there is no timetable for rate hike

Bank of England Governor Mark Carney said on Tuesday he had no set timetable for raising interest rates and avoided giving his trademark steer on what was likely to happen to borrowing costs against a volatile global economic backdrop. Carney, making his first speech of 2016 as growth hit a quarter-century low in China while wages rise more slowly at home, said he would only commit to keeping the bank focused on its inflation target.
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