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Feb 13, 2013

Bank of England sees inflation staying higher for longer

LONDON, Feb 13 (Reuters) – Britain’s central bank said on
Wednesday that inflation would stay higher for longer and its
governor cautioned that further bond-buying to boost the weak
recovery might have limited impact.

The economy was set for a “slow but sustained recovery” over
the next three years, and economic output was unlikely to
surpass its pre-financial crisis peak until 2015, the Bank of
England said in its quarterly inflation report.

Feb 13, 2013

BoE still open to stimulus but no panacea for growth

LONDON (Reuters) – The Bank of England said on Wednesday that inflation will not fall back to its 2 percent target until early 2016 but that it was still open to more bond purchases to boost Britain’s stagnant economy.

It noted, however, that there were limits to what such a policy could achieve.

The economy was set for a “slow but sustained recovery” over the next three years, and economic output was unlikely to surpass its pre-financial crisis peak until 2015, the Bank said in its quarterly inflation report.

Feb 13, 2013

Bank of England still open to stimulus but no panacea for growth

LONDON (Reuters) – Britain’s central bank said on Wednesday that inflation will not fall back to its 2 percent target until early 2016 but that it was still open to more bond purchases to boost Britain’s stagnant economy.

It noted, however, that there were limits to what such a policy could achieve.

The economy was set for a “slow but sustained recovery” over the next three years, and economic output was unlikely to surpass its pre-financial crisis peak until 2015, the Bank of England said in its quarterly inflation report.

Feb 12, 2013

UK inflation stuck at highest level since May

LONDON, Feb 12 (Reuters) – British inflation unexpectedly
held steady for the fourth month in a row in January, giving
little respite to consumers facing the highest prices since last
May, official data showed on Tuesday.

Annual consumer price inflation stayed at 2.7 percent last
month, the Office for National Statistics said, slightly below
the 2.8 percent median forecast in a Reuters poll of economists.

Feb 8, 2013

Bank of England reinvests bonds, will buy more if needed

LONDON (Reuters) – The Bank of England voted on Thursday to reinvest government bond holdings that mature in March and promised to provide more stimulus if needed for an economy that was recovering only very slowly.

After a two-day meeting, the bank as expected kept its main interest rate at 0.5 percent and its target for gilt purchases at the previously agreed 375 billion pounds.

Feb 7, 2013

Bank of England reinvests maturing bonds, ready to do more

LONDON, Feb 7 (Reuters) – The Bank of England kept its
support for the economy steady on Thursday, voting to reinvest
6.6 billion pounds of bond holdings that mature in March and
saying it would provide more stimulus if needed.

After a two-day meeting, the BoE’s nine-member Monetary
Policy Committee as expected said its main interest rate would
stay at 0.5 percent and that it would keep its gilt purchases at
the 375 billion pounds’ worth bought so far.

Feb 7, 2013

UK output climbs more than expected, ending poor Q4

LONDON (Reuters) – British industrial output rose a touch more than expected in December, ending its worst quarter since the start of 2009 with a glimmer of hope for a government desperate to avoid sliding back into recession.

The broad indicator of output, which includes energy production and mining, grew 1.1 percent compared to a revised 0.2 percent rise in November and economists’ forecasts for growth of 0.9 percent.

Feb 7, 2013

UK December output climbs more than expected, ending poor fourth quarter

LONDON (Reuters) – British industrial output rose a touch more than expected in December, ending its worst quarter since the start of 2009 with a glimmer of hope for a government desperate to avoid sliding back into recession.

The broad indicator of output, which includes energy production and mining, grew 1.1 percent compared to a revised 0.2 percent rise in November and economists’ forecasts for growth of 0.9 percent.

Feb 7, 2013

UK to borrow more in 2012-13, deeper job cuts loom – IFS

LONDON (Reuters) – The government will borrow more rather than less this fiscal year and its multi-year austerity plan will lead to 1.2 million public sector job cuts, a leading policy institute said on Wednesday.

The forecasts, which the Institute for Fiscal Studies said supported the case for the Bank of England to do more to boost the economy, are more pessimistic than those used by Chancellor George Osborne to set policy, with the IFS pencilling in an extra 270,000 job losses by 2018.

Feb 6, 2013

UK to borrow more in 2012-13, deeper job cuts loom: institute

LONDON (Reuters) – Britain’s government will borrow more rather than less this fiscal year and its multi-year austerity plan will lead to 1.2 million public sector job cuts, a leading policy institute said on Wednesday.

The forecasts, which the Institute for Fiscal Studies said supported the case for the Bank of England to do more to boost the economy, are more pessimistic than those used by finance minister George Osborne to set policy, with the IFS penciling in an extra 270,000 job losses by 2018.

    • About Olesya

      "Olesya Dmitracova joined Reuters as a graduate trainee. She has spent a year in the Reuters Moscow bureau covering general and political news in Russia and the CIS. Since 2007 she’s been based in London, first as an investment banking reporter and since 2009, covering humanitarian crises and corruption issues worldwide for AlertNet and TrustLaw websites run by the Thomson Reuters Foundation. Before joining Reuters, Olesya had worked for the BBC World Service and regional media in Britain."
      Hometown:
      Balti, Moldova
      Joined Reuters:
      2005
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