Arab Today, arab today bank of england to keep interest rate steady
Last Updated : GMT 13:34:54
Arab Today, arab today
Arab Today, arab today

Bank of England to keep interest rate steady

Arab Today, arab today

Arab Today, arab today Bank of England to keep interest rate steady

London - AFP

The Bank of England will leave its main interest rate at a record-low 0.50 percent on Thursday amid weak economic growth in Britain and lingering debt strains in the neighbouring eurozone, analysts said. The BoE is also set to decide against pumping more new money into the economy, with British inflation still far above the central bank\'s target rate, experts added. \"The run of weaker news on the economic recovery has made a near-term interest rate rise even less likely than before,\" said Vicky Redwood, senior analyst at Capital Economics research group. Britain\'s economy, struggling to absorb deep budget cuts, slowed to a trickle in the second quarter, with expansion of only 0.2 percent, official data revealed last week. However it was partly impacted by the royal wedding on Friday, April 29, when many workers were granted a day off by employers to celebrate the marriage of Prince William and Catherine Middleton. \"Admittedly, the Office for National Statistics indicated that special factors could have knocked off up to 0.5 percentage points off second quarter growth,\" said Howard Archer, European economist at IHS Global Insight research group. \"However, there are serious uncertainties over just how much these factors held back growth in the second quarter and the fact is that the UK economy has barely grown since the end of the third quarter of 2010.\" The International Monetary Fund on Monday maintained its growth forecasts for Britain but warned that risks from the eurozone debt crisis, spending cuts and volatile commodity prices could demand a change to BoE policy. The central bank slashed interest rates to 0.50 percent more than two years ago, in March 2009, when it also launched the radical stimulus programme known as quantitative easing that helped drag Britain out of a deep recession. Under QE, the central bank injected £200 billion of new money into the British economy between March 2009 and February 2010. \"Given the negative tone of much of the UK data recently, the main policy question seems to be whether the (BoE) committee is sufficiently concerned over the evidence of weaker economic activity to sanction more QE,\" said Philip Shaw, economist at Investec financial group. \"Our judgement is that most members are unsettled by a risk that growth is grinding to a halt, but that they are not at the stage where they feel that further easing is appropriate.\" Some economists argue that more stimulus would fuel Britain\'s annual inflation rate, which at 4.2 percent in June is already more than double the BoE\'s official target of 2.0 percent. Also on Thursday, the European Central Bank is tipped to keep its main interest rate at 1.50 percent, with inflation falling, business confidence down and markets nervous about debt contagion in the eurozone.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today bank of england to keep interest rate steady Arab Today, arab today bank of england to keep interest rate steady

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today bank of england to keep interest rate steady Arab Today, arab today bank of england to keep interest rate steady

 



Arab Today, arab today Designer prepared new set of ornaments

GMT 02:45 2017 Wednesday ,28 June

Designer prepared new set of ornaments
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
Arab Today, arab today
Arab Today, arab today

GMT 05:52 2017 Wednesday ,28 June

Suzanne Tamim’s father refuses to give comment

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 11:09 2017 Sunday ,25 June

HUAWEI P10 the ‘guru’ of portrait shots

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday