At the first rate-setting meeting under new governor Mark Carney, the policy makers at the Bank of England, the Bank of England (BoE), maintaining its program of quantitative relaxation, QE, as economic data showed that the recovery is getting stronger.
The same decision was also made by the European Central Bank, the European Central Bank (ECB), returning its key interest rate for the second month in a row.
At the first meeting of the new governor, the nine members of the Monetary Policy Committee (MPC) BoE, decided to maintain its asset purchase program which is valued at 375 billion pounds. In this meeting, the panel also decided to keep its benchmark interest rate unchanged at 0.50 percent.
In a statement, the central bank said further indication of the ongoing economic recovery, although the calculus is still quite weak by historical standards and the historical rate of decline is still expected to persist in some future period.
Former BoE Governor Mervyn King along with Paul Fisher and David Miles can be said to be successful making efforts to increase the stimulus in recent months.
As usual, the minutes of the meeting will be published on July 17 will show the reason why the members of the result of the decision in its current meeting.
Meanwhile at the ECB, the board of governors led by ECB president Mario Draghi also do the same, ECB kept interest rates at a record financing down 0.50 percent as had been previously thought.
In May, the ECB lowered interest rates by a quarter basis points, a decrease for the first time in nine months. The central bank also maintains facilities in the loan interest rate of 1 percent for a second month, having lowered it by 50 basis points in May. And the deposit rate was also unchanged at zero percent.
0 comments:
Post a Comment