BoE keeps the steady course so far - UOB

FXStreet reports that economist at UOB Group Lee Sue Ann assesses the latest BoE event. “At its first meeting for the year, the Bank of England (BOE)’s monetary policy committee (MPC) judged that the existing stance of monetary policy remains appropriate.

”

“The BOE, on Thursday, also updated its forecasts, adding that the UK economy did not suffer as badly at the end of 2020 as previously expected, but there would be a downturn in the first quarter of 2021 because of the long lockdown while vaccinations were rolled out. . . But the economy is still predicted to return to its pre-pandemic size in early 2022, with consumers expected to spend heavily once the pandemic restrictions were lifted. ”

“There is certainly somewhat less pressure for the BOE to offer furtther stimulus given the rapid vaccine rollout and the corresponding likelihood of a recovery beyond Spring. That said, the outlook for the UK remains incredibly uncertain with downside risks. At this juncture, we are not ruling out an acceleration in the pace of bond purchases, or changes to the Term Funding Scheme. As for negative interest rates, we are not expecting any further cuts for now, though policymakers will be careful not to shut the door to this option. ”

.

for boe that not its

2021-2-8 14:39

Источник: teletrade.ru

for boe → Результатов: 1 / for boe - фото


BoE's Fisher Says British Economy Remains Weak, Downplays Bullish Outlook


UK's economy remains vulnerable to risks despite recent economic data indicating a strong pick up in activity, Bank of England policymaker Paul Fisher said Wednesday. He cautioned that growth will likely remain weak in the near term and the economy will take a longer time to recover than the United States.



Dismissing the recent positive economic data as insignificant, BoE's head of markets noted that it is imperative to keep monetary policy loose for a long period to achieve growth that is in line with trend.



Fisher said that the macroeconomic outlook in the U.K. is not as good as in the U.S, where inventors had belatedly realized that a recovery is possible.



Addressing a gathering of business persons, Fisher said that house prices in the U.K. are too high and urged lenders to pass on their lower funding costs on to clients. Terming the government's Funding for Lending scheme a success, he called for actions conducive to increase the number of transactions in order to raise demand.



In an interview given to The Times earlier the policymaker reserved his comment on his stance on BoE governor Mervyn King's proposal to split the Royal Bank of Scotland (RBS) into a "good" bank and a "bad" bank. He said that it is possible to privatize the RBS if a two-year program is prepared for the same.





news.instaforex.com »

2013-06-12 19:41

Партнеры