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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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04 April 2002
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14 February 2002
Inflation rises but interest rates unchanged
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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.
05 December 2001
UK interest rates remain unchanged
The Bank of England has left interest rates unchanged at four per cent, in line with analysts' forecasts. The Bank's decision was widely predicted by City analysts, who said that having reduced interest rates by an unexpectedly high 0.5 per cent last month, the Bank was unlikely to cut again this week.
UK interest rates remain unchanged
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08 February 2002
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
Interest rates are on hold following the Bank of England's decision to keep the current level of interest at 4 per cent.
08 August 2001
Economy slow down predicted by Bank of England
According to the latest economic analysis from the Bank of England, the UK economy will remain weak for the rest of this year. The Bank’s quarterly inflation report indicated that although the economy was expected to begin to recover in 2002 the current pressures on the euro zone economic area were intense.
Economy slow down predicted by Bank of England
According to the latest economic analysis from the Bank of England, the UK economy will remain weak for the rest of this year. The Bank’s quarterly inflation report indicated that although the economy was expected to begin to recover in 2002 the current pressures on the euro zone economic area were intense.
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