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30/08/2001
European Central Bank cuts interest rates
The European Central Bank (ECB) has cut interest rates to 4.25 per cent.
The news came on Thursday August 30, the day the Bank kicks off the countdown to the introduction of the euro as a cash currency in just four months time.
A cut from the ECB’s 4.50 per cent rate had been widely predicted by observers, who expected the bank to give a lift to the stagnating economies in Germany and Italy among others.
But some analysts believe that a rate cut would boost consumer confidence in the euro, while others argue that the bank would not want to distract attention from its high-profile campaign.
Since the last cut in May, indications of an economic slowdown in Europe have multiplied, with Germany especially badly affected.
However, although inflation is now falling it is still higher than the bank's "reference value" of two per cent or lower. (MB)
The news came on Thursday August 30, the day the Bank kicks off the countdown to the introduction of the euro as a cash currency in just four months time.
A cut from the ECB’s 4.50 per cent rate had been widely predicted by observers, who expected the bank to give a lift to the stagnating economies in Germany and Italy among others.
But some analysts believe that a rate cut would boost consumer confidence in the euro, while others argue that the bank would not want to distract attention from its high-profile campaign.
Since the last cut in May, indications of an economic slowdown in Europe have multiplied, with Germany especially badly affected.
However, although inflation is now falling it is still higher than the bank's "reference value" of two per cent or lower. (MB)
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04 April 2002
Interest rates remain unchanged at 4 per cent
The Bank of England have announced that UK interest rates will remain unchanged at a 38-year low of four per cent following the monthly meeting of the bank's Monetary Policy Committee (MPC). The news was broadly welcomed as the UK, and Europe, continues to slowly edge out of last year's downturn.
Interest rates remain unchanged at 4 per cent
The Bank of England have announced that UK interest rates will remain unchanged at a 38-year low of four per cent following the monthly meeting of the bank's Monetary Policy Committee (MPC). The news was broadly welcomed as the UK, and Europe, continues to slowly edge out of last year's downturn.
14 February 2002
Inflation rises but interest rates unchanged
The Bank of England Monetary Policy Committee (MPC) have decided not to raise interest rates at its monthly meeting, despite inflation warnings from the Office for National Statistics (ONS). The figures released by the ONS revealed an underlying inflation rate that exceeded the rates anticipated by the Bank of England.
Inflation rises but interest rates unchanged
The Bank of England Monetary Policy Committee (MPC) have decided not to raise interest rates at its monthly meeting, despite inflation warnings from the Office for National Statistics (ONS). The figures released by the ONS revealed an underlying inflation rate that exceeded the rates anticipated by the Bank of England.
05 December 2001
UK interest rates remain unchanged
The Bank of England has left interest rates unchanged at four per cent, in line with analysts' forecasts. The Bank's decision was widely predicted by City analysts, who said that having reduced interest rates by an unexpectedly high 0.5 per cent last month, the Bank was unlikely to cut again this week.
UK interest rates remain unchanged
The Bank of England has left interest rates unchanged at four per cent, in line with analysts' forecasts. The Bank's decision was widely predicted by City analysts, who said that having reduced interest rates by an unexpectedly high 0.5 per cent last month, the Bank was unlikely to cut again this week.
08 February 2002
UK interest rates remain on hold
Interest rates are on hold following the Bank of England's decision to keep the current level of interest at 4 per cent.
UK interest rates remain on hold
Interest rates are on hold following the Bank of England's decision to keep the current level of interest at 4 per cent.
19 March 2002
US shows positive signs for economic growth
The US economy has shown signs of an economic turnaround after figures for the last quarter showed that GDP had risen by 2.7 per cent. It is expected that the rise in GDP will force the US central bank to reassess its somewhat cautious and negative view of the economy. The quarterly figures also reveal consumer spending rose 1.
US shows positive signs for economic growth
The US economy has shown signs of an economic turnaround after figures for the last quarter showed that GDP had risen by 2.7 per cent. It is expected that the rise in GDP will force the US central bank to reassess its somewhat cautious and negative view of the economy. The quarterly figures also reveal consumer spending rose 1.
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Northern Ireland WeatherToday:A showery start with outbreaks most frequent north of Lough Neagh and through the morning, before dwindling during the afternoon as the northwest breezes ease and brighter spells of weak sunshine prosper. Maximum temperature 8 °C.Tonight:A dry night, save for a few light showers around the coasts, with prolonged clear spells and light winds bringing a frosty dawn for many in central and southern parts. Minimum temperature -3 °C.
