boe to sit tight with uk out of recession
Last Updated : GMT 18:26:54
Arab Today, arab today
Arab Today, arab today

BoE to sit tight with UK out of recession

Arab Today, arab today

Arab Today, arab today BoE to sit tight with UK out of recession

London - AFP

The Bank of England was expected to announce a pause to its economic stimulus programme on Thursday after recent official data showed Britain had exited a deep recession in the third quarter of 2012. Until recently, many analysts had expected that the British central bank would announce an increase to its stimulus, or quantitative easing policy, following its upcoming monetary policy meeting to boost lending and economic activity. But after data showing that Britain has escaped its longest double-dip recession since the 1950s, most commentators now expect that the Bank of England (BoE) will sit tight before pumping more stimulus cash into the economy. The BoE\'s Monetary Policy Committee (MPC) has injected £375 billion ($600 billion, 468 billion euros) of new cash into the economy since March 2009, in a bid to stimulate growth -- including £50 billion between July and November. \"We judge that on balance the MPC is most likely to remain on hold, maintaining the quantitative easing (QE) target at £375 billion and effectively entering a pause in the programme,\" said Victoria Clarke at Investec bank. \"Nevertheless this is going to be a tough call for the committee\" with British growth remaining weak. Under quantitative easing (QE), the Bank of England creates cash that is used to purchase assets such as government and corporate bonds with the aim of increasing lending by retail banks and boosting economic activity. However Britain\'s major banks, battling against falling profits and heavy fines, remain reluctant to lend to many individuals and businesses. The BoE was on Thursday also forecast to announce that it was maintaining its key interest rate at a record-low level of 0.50 percent, where it has stood since March 2009. British gross domestic product (GDP) rallied by 1.0 percent in the third quarter, or three months to September, after output had contracted for the previous three quarters, data showed last month. However, growth turned positive on one-off factors, including the London 2012 Olympic Games and rebounding activity after an extra public holiday for Queen Elizabeth II\'s Diamond Jubilee in the second quarter. Adding to the unease, a stream of poor data this week has prompted fresh worries about the economic outlook, analysts said. Figures for example showed British industrial output tumbled by 1.7 percent in September from the August level -- far worse than market expectations for a small drop of 0.4 percent. Retail sales meanwhile dipped by 0.1 percent in October from a year earlier, an industry survey from the British Retail Consortium revealed on Tuesday. Elsewhere, the nation\'s house prices slid 0.7 percent in October, falling for the fourth month in a row as the weak economy weighed on the property market, according to a survey from home-loans provider Halifax. \"If we were in any doubt about the fragility of the recovery... (recent) data should have put the record straight,\" said Deutsche Bank\'s chief UK economist George Buckley, who predicted no change in BoE policy this month. \"The combination of weaker retail sales growth, a decline in house prices and a sharp fall in industrial production come on top of the disappointing\" services sector data. The latest CIPS/Markit purchasing managers\' index (PMI) for the services sector showed output slowed sharply in October to 50.6 from 52.2 in September. A level above 50 indicates that the sector is expanding.

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*

boe to sit tight with uk out of recession boe to sit tight with uk out of recession

 



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*

boe to sit tight with uk out of recession boe to sit tight with uk out of recession

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Japanese regulators raid Airbnb

GMT 00:44 2017 Monday ,20 November

Japanese regulators raid Airbnb
Arab Today, arab today Keep kids busy at Thanksgiving gatherings

GMT 11:14 2017 Friday ,10 November

Keep kids busy at Thanksgiving gatherings
Arab Today, arab today Saudi, Bahrain target Iran

GMT 00:48 2017 Monday ,20 November

Saudi, Bahrain target Iran
Arab Today, arab today Europe turns on Facebook, Google

GMT 02:26 2017 Monday ,20 November

Europe turns on Facebook, Google
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today May under Brexit pressure at EU reform summit

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Driverless, electric future just round

GMT 02:45 2017 Monday ,20 November

Driverless, electric future just round
Arab Today, arab today Tesla unveils its all-electric semi truck

GMT 02:59 2017 Saturday ,18 November

Tesla unveils its all-electric semi truck
Arab Today, arab today Mona Abdel Ghany increased artistic activities

GMT 12:15 2017 Friday ,17 November

Mona Abdel Ghany increased artistic activities
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 12:22 2017 Thursday ,16 November

Hanan Metawe denies apology for “Major Treason”

GMT 11:15 2017 Thursday ,16 November

Angola oil boss sacked by father's protege

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 11:49 2017 Thursday ,17 August

Egyptian artist presents new collection of designs

GMT 02:28 2017 Saturday ,18 November

Anti-drug operation nets 4 tonnes

GMT 01:34 2017 Friday ,17 November

Banyan Tree Phuket Takes Festive Season

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
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