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03/08/2001
Eurozone holds steady on interest rates
THE European Central Bank (ECB) has held steady on interest rates following speculation that the eurozone may be able to avoid a recession in the manufacturing sector.
The ECB announced its decision to maintain its interest rate at 4.5 per cent on Thursday 2 August, in a move which saw the bank place greater importance on controlling the rate of inflation than on the stimulation of domestic economic growth, due to figures showing a general increase in the service sector for the second consecutive month.
In contrast, unemployment figures from the US have defied analysts’ prediction, levelling out at 4.5 per cent for the month of July, thanks to the Federal Reserve’s proactive policy towards the reduction of interest rates.
Some have interpreted the data, released on Friday 3 August, as suggesting that the US economy could be starting to pick up, but analysts have voiced concerns, in light of these positive payroll figures, of a too-hasty return by the Federal Reserve to a more lax approach to cutting interest rates. (CL)
The ECB announced its decision to maintain its interest rate at 4.5 per cent on Thursday 2 August, in a move which saw the bank place greater importance on controlling the rate of inflation than on the stimulation of domestic economic growth, due to figures showing a general increase in the service sector for the second consecutive month.
In contrast, unemployment figures from the US have defied analysts’ prediction, levelling out at 4.5 per cent for the month of July, thanks to the Federal Reserve’s proactive policy towards the reduction of interest rates.
Some have interpreted the data, released on Friday 3 August, as suggesting that the US economy could be starting to pick up, but analysts have voiced concerns, in light of these positive payroll figures, of a too-hasty return by the Federal Reserve to a more lax approach to cutting interest rates. (CL)
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04 September 2001
Bank likely to leave interest rate unchanged
The Monetary Policy Committee (MPC) of the Bank of England are likely to leave interest rates unchanged at 5 per cent. The Committee are due to begin their latest two-day meeting amid a spate of calls for another cut in the interest rate.
Bank likely to leave interest rate unchanged
The Monetary Policy Committee (MPC) of the Bank of England are likely to leave interest rates unchanged at 5 per cent. The Committee are due to begin their latest two-day meeting amid a spate of calls for another cut in the interest rate.
19 March 2002
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.
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.
18 September 2001
Interest rates cut to lowest level for 37 years
The Bank of England has opted to cut interest rates by one quarter per cent despite a higher than expected rise in domestic inflation.
Interest rates cut to lowest level for 37 years
The Bank of England has opted to cut interest rates by one quarter per cent despite a higher than expected rise in domestic inflation.
19 March 2002
Fall in inflation suggests frozen interest rates
New figures showing a fall in UK inflation have led to increased speculation that interest rates are unlikely to rise in the near future. The annual rate of inflation – excluding mortgage repayments – decreased to 2.2 per cent during February, a fall of 0.4 per cent on the figure for January. Inflation including mortgage repayments fell to 1.
Fall in inflation suggests frozen interest rates
New figures showing a fall in UK inflation have led to increased speculation that interest rates are unlikely to rise in the near future. The annual rate of inflation – excluding mortgage repayments – decreased to 2.2 per cent during February, a fall of 0.4 per cent on the figure for January. Inflation including mortgage repayments fell to 1.
08 January 2004
UK Interest rates sticks at 3.75%
As expected, the Bank of England has decided to hold the base rate at 3.75% today. The Bank's Monetary Policy Committee (MPC) opted to hold the rate following a quarter point rise in December - the first rise in four years. However, analysts are continuing to warn consumers that rises are imminent in the year ahead.
UK Interest rates sticks at 3.75%
As expected, the Bank of England has decided to hold the base rate at 3.75% today. The Bank's Monetary Policy Committee (MPC) opted to hold the rate following a quarter point rise in December - the first rise in four years. However, analysts are continuing to warn consumers that rises are imminent in the year ahead.
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Northern Ireland WeatherThis Evening and Tonight:Showers, scattered in the evening, will clear by midnight leaving the night dry with clear spells. Perhaps a touch of ground frost. Cloud will spread east towards morning. Minimum temperature 2 °C.
