BOE’S BAILEY HINTS THAT EXPANDED QE WILL PRECEDE ANY RATE CUT
By Laurie Laird LONDON (MaceNews) – Bank of England Governor Andrew Bailey Wednesday suggested that the UK central bank is likely to expand its quantitative easing program before embarking on any move to nudge interest rates into negative territory. “We have signaled that we stand ready to do more within the framework of policies we […]
FED’S BEIGE BK: SEVERE DISRUPTIONS CONTINUE; NO QUICK RECOVERY SEEN
–Some Recent Improvement in Autos –Not Seeing Full Hirebacks WASHINGTON (MaceNews) – The Federal Reserve’s latest Beige Book survey of economic activity across the country Wednesday chronicled the continuing – and in some regions, deepening – severe disruption caused by the pandemic with some Districts finding low expectations for a quick rebound and complete rehirings. […]
ECB’S LAGARDE: EUROZONE ECONOMY LIKELY TO SHRINK 8-10% IN 2020
By Laurie Laird LONDON (MaceNews) – The eurozone economy could shrink by as much as 10% this year, according to the European Central Bank president, a more shallow contraction than envisioned under the bank’s most severe forecast scenario. Addressing an online European youth event, Christine Lagarde predicted the eurozone will suffer a downturn “about double” […]