LONDON (Reuters) – Having sat on its hands since last summer, the Bank of England is coming round to the view that it may need to do more to stop Britain’s stuttering economy lurching back into reverse.
A growing number of economists reckon another 25 billion pounds of government bond buying is in the offing, possibly as soon as this week’s meeting of the bank’s Monetary Policy Committee which ends on Thursday.
LONDON, Feb 28 (Reuters) – EU Economic and Monetary Affairs
Commissioner Olli Rehn urged the euro zone’s big debtors on
Thursday to keep repairing their finances, saying they could not
afford the ‘luxury’ of spending to boost their economies.
He backed Italy to find a way out of its political deadlock,
and called for countries to stick with careful but steady fiscal
LONDON (Reuters) – The Bank of England left interest rates at a record low on Thursday and kept up its sleeve the option of more stimulus under its quantitative easing programme should an already struggling economy weaken further.
The BoE issued no statement with its decision, but minutes from the meeting may show an anxious discussion about what tools could be used if the recovery fails to gain traction.
LONDON (Reuters) – A run of disappointing data and signs that price pressures are near a peak have strengthened the hand of the doves on the Bank of England, making an interest rate an unlikely prospect until well into next year.
Indeed, it is not inconceivable that another policymaker joins Adam Posen in August to call for more stimulus for the economy, or that Spencer Dale and Martin Weale abandon their call for higher interest rates to vote with the pack.
LONDON (Reuters) – A darkening economic backdrop and the threat of further market turmoil have raised the possibility that the Bank of England’s next move might be to loosen monetary policy rather than tighten it.
The majority view is that the Bank will sit on its hands this month, but a surprise monetary easing from the Swiss National Bank on Wednesday suggests nothing can be ruled out.
LONDON (Reuters) – Faced with a stalling economy and a fiscal straitjacket, Bank of England policymakers may spend an unusual amount of time this week discussing what might be done should the recovery fail to pick up.
At the start of the year, the question was when, not if, interest rates would rise. Now a rate rise this year looks highly unlikely, and the question is whether more stimulus is needed.
LONDON (Reuters) – British factory orders fell more sharply than forecast in July and price pressures hit their lowest point in 1-1/2 years, while industry expects the slowdown in manufacturing to continue over the coming months.
The survey by the Confederation of British Industry doused hopes for improvement in the third quarter a day after official data showed the economy barely grew in the second quarter.
LONDON, Jul (Reuters) – British retail sales bounced back modestly in June from May’s steep slump, doing little to allay concerns over the recovery and highlighting the uphill struggle for the government as it aims to erase a record budget deficit.
The Office for National Statistics said on Thursday sales volumes rose 0.7 percent last month, slightly more than analysts had forecast but recovering only half the previous month’s drop.
LONDON (Reuters) – Britain’s growth outlook has darkened and interest rates are unlikely to rise anytime soon, the Bank of England said, reinforcing the view that rates will stay at 0.5 percent for another year.
Minutes to the Bank’s July meeting published on Wednesday acknowledged that the economy’s soft patch “would persist for longer than previously thought.”
LONDON (Reuters) – Britain’s growth outlook has darkened and interest rates are unlikely to rise any time soon, the Bank of England said, reinforcing the view that rates will stay at 0.5 percent for another year.
Minutes to the BoE’s July meeting published on Wednesday acknowledged that the economy’s soft patch “would persist for longer than previously thought”.