Coronavirus: Bank of England holds rates but paints gloomy economic picture March 26, 2020 The Bank of England has kept interest rates on hold at the record low level of 0.1 per cent but signalled it is prepared to take further action to tackle the effects of coronavirus. The Bank’s monetary policy committee (MPC) today said it “stands ready to respond further as necessary to guard against an unwarranted [...]
US unemployment skyrockets as coronavirus crashes economy March 26, 2020 The number of Americans claiming unemployment benefits skyrocketed at the fastest pace on record last week as coronavirus laid waste to the US economy, data showed today. Jobless claims soared to 3.3 million in the week to 21 March from 282,000 a week earlier, according to the US Department of Labor (DoL). “This marks the [...]
Coronavirus: Moody’s downgrades outlook for Europe’s biggest banking systems March 26, 2020 Ratings agency Moody’s has downgraded the outlook for six of Europe’s biggest banking systems to “negative” as coronavirus threatens lenders’ profitability and asset quality. Moody’s said the banking systems of France, Italy, Spain, Denmark, the Netherlands and Belgium face a very difficult year and can therefore no longer keep their “stable” rating. The ratings agency [...]
ECB ditches rules limiting €750bn coronavirus bond purchases March 26, 2020 The European Central Bank (ECB) has scrapped nearly all limits to its bond-buying programme, significantly widening the scope of the €750bn (£700bn) of asset purchases it announced last week. The Eurozone’s central bank has previously followed self-imposed rules that say it cannot buy more than a third of a country’s sovereign debt. The Bank was [...]
NHS gets 560,000 volunteers to help fight coronavirus March 26, 2020 Health secretary Matt Hancock has said 560,000 people have volunteered to help the National Health Service as it struggles to cope with the coronavirus pandemic. The figure is more than double the number Hancock initially asked for on Tuesday. The health secretary said it is “fantastic” that so many people had “responded to our call [...]
Coronavirus: FTSE 100 falls ahead of US unemployment figures March 26, 2020 The FTSE 100 has fallen in early trading after two consecutive days of gains as investors await what is set to be dire US jobs data and an interest rate decision by the Bank of England. Britain’s main stock index was down 2.8 per cent at 5,530 points. It had climbed five per cent yesterday [...]
Zoopla: Coronavirus could send UK house prices plunging March 26, 2020 UK house prices could plunge dramatically as the coronavirus outbreak causes demand to dry up, Zoopla has warned. The spread of Covid-19 is already having a big effect on the market, causing a 40 per cent drop in demand for housing in the seven days to 22 March, according to data from property website Zoopla. [...]
FTSE 100 rises on $2 trillion US coronavirus stimulus March 25, 2020 The FTSE 100 has risen in afternoon trading on a volatile day for global stock markets following the signing of a $2 trillion (£1.7 trillion) US coronavirus stimulus package. London’s blue-chip index was two per cent higher at 5,557 by 4pm after swinging in and out of negative territory earlier in the session. European stocks [...]
US stocks choppy as Wall Street weighs huge coronavirus stimulus March 25, 2020 US stocks have had a mixed start to trading a day after the biggest rally in a decade as investors mull over a $2 trillion stimulus package agreed by Congress yesterday. Wall Street’s Dow Jones was 1.3 per cent higher an hour into trading, while the S&P 500 was up 0.1 per cent. The Nasdaq [...]
UK retailers most pessimistic since financial crisis amid coronavirus outbreak March 25, 2020 UK retailers are at their most pessimistic since the financial crisis as sales of non-essential goods plummet due to coronavirus containment measures, a survey has shown. However, grocers and other food firms have seen a surge in demand as Brits stockpile during the coronavirus lockdown, the CBI said today. This divergence of fortunes for Britain’s [...]
