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30/08/2001
European Central Bank cuts interest rates
The European Central Bank (ECB) has cut interest rates to 4.25 per cent.
The news came on Thursday August 30, the day the Bank kicks off the countdown to the introduction of the euro as a cash currency in just four months time.
A cut from the ECB’s 4.50 per cent rate had been widely predicted by observers, who expected the bank to give a lift to the stagnating economies in Germany and Italy among others.
But some analysts believe that a rate cut would boost consumer confidence in the euro, while others argue that the bank would not want to distract attention from its high-profile campaign.
Since the last cut in May, indications of an economic slowdown in Europe have multiplied, with Germany especially badly affected.
However, although inflation is now falling it is still higher than the bank's "reference value" of two per cent or lower. (MB)
The news came on Thursday August 30, the day the Bank kicks off the countdown to the introduction of the euro as a cash currency in just four months time.
A cut from the ECB’s 4.50 per cent rate had been widely predicted by observers, who expected the bank to give a lift to the stagnating economies in Germany and Italy among others.
But some analysts believe that a rate cut would boost consumer confidence in the euro, while others argue that the bank would not want to distract attention from its high-profile campaign.
Since the last cut in May, indications of an economic slowdown in Europe have multiplied, with Germany especially badly affected.
However, although inflation is now falling it is still higher than the bank's "reference value" of two per cent or lower. (MB)
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Inflation rises but interest rates unchanged
The Bank of England Monetary Policy Committee (MPC) have decided not to raise interest rates at its monthly meeting, despite inflation warnings from the Office for National Statistics (ONS). The figures released by the ONS revealed an underlying inflation rate that exceeded the rates anticipated by the Bank of England.
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UK interest rates remain on hold
Interest rates are on hold following the Bank of England's decision to keep the current level of interest at 4 per cent.
UK interest rates remain on hold
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19 March 2002
US shows positive signs for economic growth
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US shows positive signs for economic growth
The US economy has shown signs of an economic turnaround after figures for the last quarter showed that GDP had risen by 2.7 per cent. It is expected that the rise in GDP will force the US central bank to reassess its somewhat cautious and negative view of the economy. The quarterly figures also reveal consumer spending rose 1.
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