The Bank of England stands ready to pump more money into the faltering British economy, minutes to the BoE's September meeting showed, flagging the chance of more asset purchases as soon as October.
The minutes of the Bank of England Monetary Policy Committee meeting on September 7-8 showed policymakers are ready to pump more money as growth falters in Britain and the eurozone debt crisis escalates. This is how economists reacted:
LONDON (Reuters) - The Bank of England stands ready to support a nascent recovery in the British economy, a member of its Monetary Policy Committee said in an interview published on Monday.
Bank of England policymakers agree that Britain's stalled economy will fail to pick up in the current fourth quarter, according to minutes of their last meeting published on Wednesday.The forecast comes as the BoE minutes showed that members of the Monetary Policy Committee voted unanimously at the October meeting to pump £75 billion (£119 billion, 86 billion euros) into the British economy.The MPC also voted 9-0 earlier this month to keep British interest rates at a record low 0.50 percent -- where they have stood since March 2009.
Bank of England policymakers agree that Britain's stalled economy will fail to pick up in the current fourth quarter, according to minutes of their last meeting published on Wednesday.The forecast comes as the BoE minutes showed that members of the Monetary Policy Committee voted unanimously at the October meeting to pump £75 billion (£119 billion, 86 billion euros) into the British economy.The MPC also voted 9-0 earlier this month to keep British interest rates at a record low 0.50 percent -- where they have stood since March 2009.
[Reuters] - The outlook for the British economy is weakening so quickly that the Bank of England on Wednesday signaled it was ready to pump in more money, potentially as soon as October.
LONDON (Reuters) - The outlook for the British economy is weakening so quickly that the Bank of England on Wednesday signaled it was ready to pump in more money, potentially as soon as October.
FRANKFURT — The European Central Bank kept interest rates on hold on Thursday, waiting to see if a recession-hit economy perks up and whether an aggressive policy move by the Bank of Japan helps the eurozone.
Investors’ attention will now shift to ECB President Mario Draghi’s news conference later this morning for any signals about the bank’s preparedness to lower borrowing costs for the 17-country eurozone in the coming months.