”Bank of England chief accuses G20 of failing to reform to boost growth”
”Mark Carney rejects idea that central bankers have ‘used all ammunition’ against downturn but says system remains strong”
”Bank of England boss Mark Carney has accused the G20 of failing to adopt measures to boost global growth as he defended central banks and their power to play a role in stimulating economic growth following attacks from critics who say they have run out of ammunition.
He said: “Several commentators are peddling the myth that monetary policy is ‘out of ammunition’. This is wrong, but the widespread absence of global price pressures demands that our firepower be well aimed.”
The Bank of Japan recently joined the European Central Bank, the Danish central bank, the Swedish Riksbank and the Swiss National Bank in cutting rates to below zero to rescue their economies from deflation and the prospect of recession.
The Federal Reserve raised interest rates in December to calm what it thought was a strongly growing US economy, but a string of poor economic figures since then has put pressure on Janet Yellen, the Fed chair, to reverse the policy at the central bank’s next meeting in March.
Carney has hinted that he is prepared to cut the base rate from 0.5%, but has ruled out following the trend for negative rates, saying it would damage the stability of UK banks and building societies…….”
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies. However, you may visit "Cookie Settings" to provide a controlled consent.
This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Cookie
Type
Duration
Description
_fbp
Necessary
3 months
This cookie is used to store and track visits across websites, placed by Facebook.
_gat_gtag_UA_18902298
Analytics
1 minute
This cookie is used to analyze visitor browsing habits, flow, source and other information.
_pk_ses.4.f4e3
Analytics
1 hour
This cookie stores a unique session ID.
_pk_testcookie_domain
Analytics
expires immediately
This cookie determines whether the browser accepts cookies.
_gcl_au
Necessary
3 months
This cookie is used to store and track conversions.
_gid
Necessary
1 day
This cookie stores and track visits across websites.
_pk_id.4.f4e3
Analytics
13 months
This cookie stores unique user ID.
_ga
Analytics
24 months
This cookie is used to analyse visitor browsing habits, flow, source and other information.