Bank of England governor Mark Carney would be wrong to hike interest rates this year, and the next move should be a cut July 20, 2015 At a time when central banks all around the world are stimulating their economies through monetary easing and/or quantitative easing, it's madness that the Bank of England is considering raising interest rates – and if anything the next move should probably be a cut to 0.25 per cent. The Bank of Canada cut rates last [...]
Bank of England minutes to give clue on rate hike – London Report July 19, 2015 INCREASED rhetoric from the Bank of England suggesting an interest rate hike could come soon has sparked extra interest in this week’s minutes of the latest Monetary Policy Committee meeting. The minutes, out on Wednesday, will give clues as to how many MPC members are likely to vote for an interest rate before the end [...]
Here’s what analysts think about Bank of England governor Mark Carney’s interest rate rise comments July 17, 2015 Bank of England governor Mark Carney has dropped a few hints interest rates could rise from their record lows sooner than markets are currently expecting – but yesterday he was unusually clear. During a speech in Lincoln he said: "In my view, the decision as to when to start such a process of adjustment will [...]
Ex-MPC member Danny Blanchflower says rate rise would harm the UK July 17, 2015 Former Bank of England policymaker Danny Blanchflower has warned that an interest rate rise in the near future would harm the UK. Read more: Carney fuels speculation of 2015 interest rate hike "It may well be that the Fed [US Federal Reserve] is going to put off raising so it seems rather strange that Carney is [...]
Mark Carney fuels speculation of 2015 interest rate hike July 16, 2015 Bank of England governor Mark Carney last night dropped another strong hint that markets could be underestimating the likelihood of a 2015 interest rate hike. “In the current circumstances there is no need to wait to raise rates because of a risk management approach and run the risk of inflation overshooting target,” he said in [...]
Interest rate hike decision could come “at turn of the year – Bank of England Governor Mark Carney July 16, 2015 A decision on an interest rate hike – the first since the financial crisis – will be made by policymakers at the end of the year, Bank of England governor Mark Carney said in a speech on Thursday. Read more: Sterling jumps after Carney says interest rate hike "moving closer" The UK's economic recovery has [...]
Moody’s sounds alarm over rising UK credit card debt leaving consumers unprepared for interest rate rises July 16, 2015 Credit ratings agency Moody's has sounded the alarm over the rising level of UK consumer debt saying it leaves borrowers increasingly vulnerable to economic shocks. The new report on the risk of rising consumer debt in the UK, found unsecured lending such as credit cards and personal loans jumped to nearly seven per cent year-on-year [...]
Central bankers scent interest rate hikes: Federal Reserve prepares for rise with UK expected to follow later July 15, 2015 An unprecedented era of easy money, seen on both sides of the Atlantic since 2008, could be over by the end of the year, with the Federal Reserve preparing to hike rates and some analysts expecting the UK to follow suit in subsequent months. “If the economy evolves as we expect, economic conditions likely [...]
With real wages rising at the fastest pace since 2007, should interest rates rise now? July 15, 2015 Guy Foster, group head of research at Brewin Dolphin, says Yes Inflationary pressures are probably muted but there are four compelling reasons for raising interest rates as soon as possible. There is a growing generation of borrowers who do not know that variable interest rates can vary. The longer they remain unaware, the more risk [...]
Sterling jumps after Bank of England Governor Mark Carney says interest rate hike “moving closer” July 14, 2015 The pound jumped to $1.56 this morning after Bank of England boss Mark Carney said an interest rate rise is "moving closer" as he appeared before the newly-formed Treasury Select Committee. "The point at which interest rates may begin to rise is moving closer with the performance of the economy, consistent growth above trend, a [...]