Friday, July 25, 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:
German business confidence down in July (18 mins ago)
Hang Seng finishes on positive column (51 mins ago)
RBS reports sharp recovery (53 mins ago)
European markets open lower (54 mins ago)
German consumer confidence improves (2 hrs 20 mins ago)
Nikkei ends at six-month high (2 hrs 33 mins ago)
Resale home price down in second quarter (07-25 12:42)
Japan's inflation heat up in June (07-25 12:41)
Hong Kong stocks flat at lunch (07-25 12:19)
Nikkei gains by mid-day (07-25 11:06)

More breaking news >>

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