Stock market quotes, forex, financial news, forex tools – money-investing.com

The latest news from the Foggy Albion

 Breaking News
  • Boeing announced the start of massive layoffs The Boeing Company has no choice but to take drastic measures. The world’s largest manufacturer of space and aviation equipment is forced to reduce the number of staff by 13...
  • Serious drawdown of oil quotes Today, oil is actively declining. A very significant increase in the reserves of “black gold” in the United States caused this drop. Moreover, the fears that Russia will not reduce...
  • Swiss watch makers are in crisis Swiss watch exports in April crashed at a record pace the drop has totaled 81% compared with the same period last year. Halting production and difficulties with sales caused by...
  • The intensification of the conflict between the USA and China leads to reduction of oil prices The energy market has started the trading session rather unsuccessfully. The next round of the trade war between the States and China caused the price fall. Because of this investors...
  • Germany saves Lufthansa An air carrier Deutsche Lufthansa AG has suffered losses because of the spread of the coronavirus pandemic. It became known that the German government had not left the matter unattended...
The latest news from the Foggy Albion
May 07
13:00 2020

Today, a meeting of the Bank of England has been hold. From the press release issued after the meeting, it became known that the regulator had decided to keep the base interest rate at 0.1%. This decision was unanimously supported by absolutely all members of the Monetary Policy Committee.

Also, the committee members have agreed on the details of the government bonds buy-back program. It was decided to keep the repurchasing volume at the level of 645 billion pounds. By the way, the vote on this issue was not unanimous. Some members of the committee considered that the volume should be increased by 100 billion pounds.

The Bank of England has also published economic forecasts for the national economy. It is assumed that in the current year, the GDP of the island nation will fall by 14%. However, next year it will win back losses, increasing 15%. Analysts of the regulator have calculated that the unemployment rate could rise to 8%, while the inflation in 2020 will be equal to 0.6%.

 

The material was prepared with the participation of Katya Wilson,
a leading analyst of the brokerage company
UFT Group

Related Articles

0 Comments

No Comments Yet!

There are no comments at the moment, do you want to add one?

Write a comment

Write a Comment