Bank of England to Slow Pace of Bond Purchases After Sharp Upward Revision to 2021 Growth
By Laurie Laird LONDON (MaceNews) – The Bank of England will reduce its pace of asset purchases as the UK’s aggressive vaccine campaign has allowed the gradual reopening of the economy. “As envisaged since the announcement of [the emergency quantitative easing programme in November 2020] and consistent with developments in financial markets since then, the pace […]
Bank of England Chief Economist Haldane Flags Inflation Risk
By Laurie Laird LONDON (MaceNews) — A key Bank of England rate setter publicly queried the Monetary Policy Committee’s forecast of quiescent price pressures in 2021, warning against “central bank complacency” after a long period of below-target inflation. “My judgement is that we might see a sharper and more sustained rise in UK inflation than expected, potentially overshooting its […]
BANK OF ENGLAND’S ANDY HALDANE HAILS UK ECONOMIC RECOVERY
— Growth Returned During the ‘Second Week of April’ By Laurie Laird LONDON (MaceNews) — The UK has enjoyed a robust economic rebound over the past several months, exceeding even the most optimistic forecasts, the Bank of England’s chief economist said Tuesday. Economic activity has recovered “sooner and faster” than the Bank of England expected, […]
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” […]
BOE’S BROADBENT DOWNPLAYS PROSPECTS OF UK RECOVERY IN H2
— Sees OBR forecast of 35% decline in output in Q2 as “not unreasonable”— Decision on expanded QE expected early next month By Laurie Laird LONDON (MaceNews) – A Bank of England deputy governor Monday endorsed a grim forecast of a massive economic contraction in the second quarter, but warned that a rapid recovery may […]