Tuesday, July 7, 2015   

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:
German factory output stagnates in May (13 mins ago)
Tokyo and Australia stocks rebound (38 mins ago)
Daily bets on CSI 500 index futures capped (56 mins ago)
Australia holds policy rate, seeks weaker curency (1 hr 35 mins ago)
US hedge fund loses fight to block Samsung deal (1 hr 39 mins ago)
(Greece crisis) Europe shielded from contagion, but Greeks set to pay an economic price (2 hrs 12 mins ago)
Euro steady in Asia trade (2 hrs 52 mins ago)
(Greece crisis) Beijing on risky path, analysts warn amid further stock losses in Shanghai and HK (07-07 12:06)
Oil prices climb in Asia (07-07 11:53)
Cash-strapped American Apparel sheds jobs, shuts stores (07-07 11:51)

More breaking news >>

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