Thursday, December 18, 2014   

Bank of England continues on low rates course
(02-12 19:04)

Bank of England Governor Mark Carney has stressed that interest rates will not rise any time soon even though the British economy is growing stronger than anticipated.
With wages and price pressures subdued and the recovery not spread equally through the country, Carney says now is not the time to raise interest rates.
In the bank's quarterly economic projections today, he reinvented his policy of forward guidance to give people a better sense of when rates might rise. Carney says the bank will consider a range of parameters before deciding to raise rates.
Carney introduced “forward guidance'' when he took the job last summer, saying the bank wouldn't raise record-low interest rates before unemployment dropped to 7 percent. He was forced to update that policy because unemployment is nearing that level.—AP
   
Other Business breaking news:
Fed says can be 'patient' on rate rise (2 mins ago)
China's home prices continue to cool, declines narrowing (4 mins ago)
Avon beauty firm pays US$138m to settle China bribe probe (53 mins ago)
Nikkei jumps by break (56 mins ago)
Baidu invests in controversial taxi app Uber (12-17 19:00)
UK unemployment rate steady at 6.0% (12-17 18:37)
Russian ruble recovers losses (12-17 18:29)
European stocks slide at open (12-17 18:06)
Hang Seng ends lower, Shanghai gains (12-17 17:57)
Honda to recall almost 570,000 vehicles in China (12-17 13:07)

More breaking news >>

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