Forexsq.com - At today’s meeting the Governing Council of the ECB decided that the interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged at 1.00%, 1.75% and 0.25% respectively. The President of the ECB will comment on the considerations underlying these decisions at a press conference starting at 2.3
FOrexQ.com - Federal Reserve Chairman Ben Bernanke will likely tell members of Congress on Thursday that the slowly improving economy may need more help from the Fed and that cutting the deficit too fast could backfire.
Bernanke is testifying before the House Budget Committee a week after the Fed signaled that a full recovery could take at least three more years. As a result, the Fed said it d
ForexSQ.com - The Federal Reserve's interest-rate-setting committee on Wednesday extended its pledge to keep interest rates at exceptionally low levels to late 2014, compared to a previous target of mid-2013. In a 9-to-1 vote, the Federal Open Market Committee also kept its Operation Twist program of selling short-term Treasurys and buying longer-term ones as it held its target Fed fund rate betw
Forexsq.com - At today’s meeting the Governing Council of the ECB decided that the interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged at 1.00%, 1.75% and 0.25% respectively.
The President of the ECB will comment on the considerations underlying these decisions at a press conference starting at
ForexSQ.com - Total lending to individuals rose by £1.0 billion in November, in line with the previous six-month average. The twelve-month growth rate was unchanged at 0.9% (Table A). Within total lending, lending secured on dwellings rose by £0.6 billion, less than the previous six-month average of £0.7 billion. The three-month annualised and twelve-month growth rates remained unchanged at 0.7%
ForexSQ.com - The president of the European Central Bank (ECB), Mario Draghi, has said he has "no doubts" about the euro's ability to survive the current crisis.
Speaking to the European Parliament's Committee on Economic and Monetary Affairs, he was asked about a Financial Times interview in which he warned of the costs of a eurozone break-up.
ForexSQ.com - Federal Reserve Chairman Ben S. Bernanke told Republican senators the Fed plans no additional aid to European banks amid the region’s sovereign debt crisis, according to two lawmakers who attended the meeting.
Senator Bob Corker, a Republican from Tennessee, said Bernanke made it “very clear” in closed-door comments today the central bank doesn’t intend to rescue European financi
ForexSQ.com -Federal Reserve Chairman Ben S. Bernanke signaled he’s concerned Europe’s crisis will hobble a 2 1/2-year U.S. expansion that may need another boost from the central bank.
The Fed’s policy-setting panel, which met in Washington yesterday, said the economy “has been expanding moderately,” compared with the Nov. 2 assessment that growth “strengthened somewhat.” At the same time, the c
ForexSQ.com - In a speech given at the London headquarters of Bloomberg, Spencer Dale – Bank of England Chief Economist and member of the Monetary Policy Committee (MPC) – asks what lessons monetary policymakers can draw from developments over the past year, addresses some concerns and criticisms often levelled at Quantitative Easing, and looks ahead to challenges for 2012. Spencer Dale argues th
ForexSQ.com - At today’s meeting the Governing Council of the ECB took the following monetary policy decisions: The interest rate on the main refinancing operations of the Eurosystem will be decreased by 25 basis points to 1.00%, starting from the operation to be settled on 14 December 2011. The interest rate on the marginal lending facility will be decreased by 25 basis points to 1.75%, with eff
ForexSQ.comThe Bank of Canada today announced that it is maintaining its target for the overnight rate at 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent. Uncertainty around the global economic outlook has increased in the weeks since the Bank released its October Monetary Policy Report (MPR). Conditions in global financial markets have deteriorate
Central Banks - At its meeting today, the Board decided to lower the cash rate by 25 basis points to 4.25 per cent, effective 7 December 2011.
Growth in the global economy has moderated this year after a strong performance in 2010. Some of the slowing reflected temporary factors, and as these passed, the pace of expansion in the United States and much of Asia began to pick up around mid year.
ForexSQ.com - Sovereign and banking risks emanating from the euro area remain the most significant and immediate threat to UK financial stability. These risks have intensified materially since the June 2011 Report. Against a backdrop of slowing global growth prospects, market concerns about the sustainability of government debt positions of smaller economies have broadened to larger euro-area eco
ForexSQ.com - The Federal Reserve, the European Central Bank and four other big central banks took coordinated action on Wednesday to ease the strain of the European debt crisis on the world economy.
The Fed, the E.C.B., the Bank of Canada, the Bank of England, the Bank of Japan and the Swiss National Bank agreed to reduce the interest rate on so-called dollar liquidity swap lines by 50 basi
