Friday, September 19, 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:
China sentences GSK officials to 2-4 years in prison: Xinhua (42 mins ago)
China's total loan demand dampens in Q3: survey (55 mins ago)
Drugmaker GSK fined in China graft probe: report (56 mins ago)
Hang Seng tracks Street gains (1 hr 3 mins ago)
Alibaba sets IPO share price at US$68 (2 hrs 7 mins ago)
London stocks surge after Scotland rejects independence (2 hrs 9 mins ago)
Japan downgrades economic assessment as PM promises reform (09-19 14:03)
Chinese buyers lead charge in iPhone 6 global debut (09-19 13:25)
Hang Seng dips, Shanghai gains (09-18 16:17)
Nikkei jumps on weaker yen (09-18 14:44)

More breaking news >>

© 2014 The Standard, The Standard Newspapers Publishing Ltd.
Contact Us | About Us | Newsfeeds | Subscriptions | Print Ad. | Online Ad. | Street Pts

 


Home | Top News | Local | Business | China | ViewPoint | CityTalk | World | Sports | People | Central Station | Spree | Features

The Standard

Trademark and Copyright Notice: Copyright 2014, The Standard Newspaper Publishing Ltd., and its related entities. All rights reserved.  Use in whole or part of this site's content is prohibited.   Use of this Web site assumes acceptance of the
Terms of Use, Privacy Policy Statement and Copyright Policy.  Please also read our Ethics Statement.