Recent weakness in British pay growth likely reflects temporary caution about Brexit among employers, Bank of England (BoE) rate-setter Kristin Forbes said in a newspaper opinion piece published on Thursday.
Minutes from this month’s policy decision said the most recent data on wages had been “notably weaker” than been expected, but Forbes suggested a rebound may be in the offing...Read more
Faster remonetisation and return of discretionary consumer demand will push economic activity in the latter part the fiscal, opined RBI Governor Urjit Patel while voting for no cut in interest rate earlier this month.
Patel, during the two-day Monetary Policy Committee meeting on February 7-8, also said that shifting monetary policy stance from accommodative to neutral will provide sufficient flexibility..Read more
Rock-bottom interest rates hurt more big European banks in 2016 than in the previous year, but the worst could soon be over with the prospect of rising borrowing costs rippling from the US to Europe.
Low rates, money printing and a penalty charge for hoarding cash have been at the heart of attempts to reinvigorate the 19-country euro zone economy..Read more
The Bank of England (BoE), Britain's central bank, held the benchmark interest rate at the record low of 0.5 percent, BoE announced on Thursday.
At BoE' s Monetary Policy Committee (MPC) meeting ending on Wednesday, all nine members of the MPC voted to freeze the rates.
The Committee also voted unanimously to keep the stock of purchased assets financed by..Read more