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BoE Keeps Rates at Record Low, No Exit Signals

Posted By admin On September 10, 2009 @ 9:45 am In Money Watch | Comments Disabled

Reuters [1]
Thursday, Sept 10th, 2009

The Bank of England left interest rates at a record low of 0.5 percent for the sixth month running on Thursday and stuck with its program of asset purchases to steer the economy towards recovery.

Most analysts had predicted the status quo after last month’s shock decision to raise the amount of money the BoE is printing to support the economy — quantitative easing — by 50 billion pounds to 175 billion pounds.

But sterling gained and front month short sterling futures pared gains because some strategists had priced in an outside chance it would do more to stimulate an economy battered by its worst recession in decades.

The BoE’s willingness to keep its foot on the monetary accelerator at a time of growing recovery optimism has set it apart from other central banks.

Full article here [1]

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URLs in this post:

[1] Reuters: http://www.cnbc.com/id/32773637

[2] Image: http://prisonplanet.tv/signup.html

[3] Fed Signals Door `Open’ for Cutting Rates to Lowest on Record: http://www.prisonplanet.com/fed-signals-door-open-for-cutting-rates-to-lowest-on-record.html

[4] Record Low Mortgage Rates, A Record Low Federal Funds Rate And Obscene Economic Stimulus Spending Have All Failed – Will Nothing Stimulate This Dead Horse Of An Economy?: http://www.prisonplanet.com/record-low-mortgage-rates-a-record-low-federal-funds-rate-and-obscene-economic-stimulus-spending-have-all-failed-%e2%80%93-will-nothing-stimulate-this-dead-horse-of-an-economy.html

[5] European Central Bank Keeps Rates at Record: http://www.prisonplanet.com/european-central-bank-keeps-rates-at-record.html

[6] Gold Rises To Record Sterling High: http://www.prisonplanet.com/gold-rises-to-record-sterling-high.html

[7] Fed Signals Ready to Cut Rates Amid Glum Outlook: http://www.prisonplanet.com/fed-signals-ready-to-cut-rates-amid-glum-outlook.html

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