Arab Today, arab today boe\s opposition to further qe program reflects better economic performance
Last Updated : GMT 07:24:04
Arab Today, arab today
Arab Today, arab today

BoE\'s opposition to further QE program reflects better economic performance

Arab Today, arab today

Arab Today, arab today BoE\'s opposition to further QE program reflects better economic performance

London - XINHUA

The decision by the Bank of England (BoE)\'s Monetary Policy Committee (MPC) against a further round of Quantitative Easing (QE) program was a sign that the British economy is on the mend and does not need a stimulus at this moment, experts said here on Friday. Th MPC met Thursday for the last time under outgoing BoE governor Mervyn King, who will step down from the post after 10 years on July 1. He will be replaced by current Bank of Canada governor Mark Carney. The MPC decided not to extend the QE program from its current 375 billion pounds (about 581 billion U.S. dollars). \"It is not too surprising given the fact that the British economy is in a better condition now than it was when they last extended QE, which was back in October 2012, when they last bought gilts,\" Deutsche Bank chief UK economist George Buckley told Xinhua. \"I don\'t think they will need to do any more in terms of QE guidance, unless the economy disappoints again. If inflation falls in the second half of this year it wil give the bank more room for maneuver if they need it, should growth disappoint,\" he said. Buckley said that the incoming governor Carney might consider an extended QE program at his first MPC meeting at the beginning of July, but he would need to persuade others on the committee in order to do so. Howard Archer, chief UK economist at IHS Global Insight, also said: \"We still think it is more likely than not that the BOE will take further simulative action over the coming months, most likely in the form of a further 25 billion pounds of QE sometime in the third quarter.\" Archer said it was likely that Carney would be keen to try and build up escape velocity from the British economy\'s extended softness and would want to establish his presence in his new role. This, together with a desire to try and counter recently rising bond yields, may also encourage the BOE to go for more QE, said Archer. But Archer added he did not expect the BOE under Carney to take interest rates below the current record low level of 0.5 percent. The positive data from the Purchase Manager Indices for services last month indicated an increase in growth in the British economy. While the news is heartening, economists have warned that the growth is still far off the trend growth of 2-2.5 percent GDP per annum, and also less than the rate of growth seen after previous deep recessions. However, the positive growth is an improvement on the final quarter of 2012 when the British economy shrank by 0.3 percent quarter on quarter. The growth is also an improvement on the forecasts of some commentators that 2013 Q1 would see further contraction in the economy, resulting in an historic third recession in succession since the global financial crisis of 2008.

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 boe\s opposition to further qe program reflects better economic performance Arab Today, arab today boe\s opposition to further qe program reflects better economic performance

 



Arab Today, arab today
Arab Today, arab today Hats, scarves add beauty to women

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women
Arab Today, arab today Tourist guide reveals methods of tourist attractions

GMT 17:46 2017 Saturday ,18 February

Tourist guide reveals methods of tourist attractions
Arab Today, arab today To release new antiques collection

GMT 20:33 2017 Friday ,17 February

To release new antiques collection
Arab Today, arab today Optimism on the front line

GMT 07:24 2017 Monday ,20 February

Optimism on the front line
Arab Today, arab today Murder of 2 reporters in Dominican Republic

GMT 22:45 2017 Thursday ,16 February

Murder of 2 reporters in Dominican Republic
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Kidogo provides childcare for underserved

GMT 20:24 2017 Wednesday ,15 February

Kidogo provides childcare for underserved
Arab Today, arab today Tragic fluctuations of Bakhtiari's life revealed

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Porsche reveals new 2018 Panamera

GMT 17:31 2017 Wednesday ,15 February

Porsche reveals new 2018 Panamera
Arab Today, arab today Egypt to hold first session of Arab film festival

GMT 21:11 2017 Saturday ,18 February

Egypt to hold first session of Arab film festival
Arab Today, arab today Teach monkeys to recognize themselves in mirror

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 07:30 2017 Saturday ,18 February

Actress Nadeen Al Rassi views art as her entity

GMT 06:40 2017 Friday ,10 February

MP calls for removing text from Islamic story

GMT 13:16 2017 Tuesday ,14 February

First fashion model with Down syndrome

GMT 10:26 2017 Tuesday ,14 February

Emergency UN meeting in Harare

GMT 14:04 2017 Tuesday ,14 February

"Lagom" new Swedish concept in interior design

GMT 12:07 2017 Thursday ,16 February

Bite-mimicking malaria vaccine

GMT 09:03 2017 Thursday ,16 February

Tour guide praises women’s beaches

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 21:42 2017 Sunday ,12 February

Rania al-Ghazali designs candles of bubbles
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