Wednesday, April 7, 2010 as of 11:14 AM ET
The International Monetary Fund on Tuesday called on the Bank of England to further ease monetary policy in an attempt to close the gap between actual and potential economic growth.
In an annual review of the British economy, IMF staff said easing could be delivered via further quantitative easing and possibly cutting the policy rate, which stands at a record low 0.5%. "With the yield curve now essentially flat at the policy rate out to 3-year maturities, a rate cut is likely to reduce yields nearly one-for-one well out into the curve, increasing its stimulative impact," the IMF said. If growth doesn't gain momentum, the government should reconsider its planned fiscal adjustment, the IMF said. Risks to the U.K. economy "are large and clearly tilted to the downside," the report said, warning that the euro-zone debt crisis poses the biggest threat to Britain's economic prospects and financial stability.Copyright © 2012 MarketWatch, Inc....The European Central Bank held interest rates at 1.0 percent on Thursday and will resist calls to do more to fight the euro zone crisis, putting the onus on governme...
National Australia Bank (NAB.AU) subsidiary UBank on Thursday cut its standard variable interest rate by 40 basis points after Australia's central bank slashed its b...
Australia's Westpac Banking Corp. (WBC.AU) reported record first-half cash earnings for the second time in a row, even as the lender struggled to preserve profit mar...
Commonwealth Bank of Australia (CBA.AU) on Thursday became the second of Australia's four major lenders to pass on part of the Reserve Bank of Australia's 50-basis-p...
The Romanian leu rose from record lows against the euro as an interim government was appointed after the country's previous administration collapsed last week.A cent...
National Australia Bank (NAB.AU) has become the first of Australia's big four banks to pass on part of the central bank's 50-basis-point rate cut to customers this w...
Australia and New Zealand Bank (ANZ.AU) Wednesday reported a 10% rise in net profit to A$2.92 billion for the first half of 2012, driven by stronger results from int...
Australia and New Zealand Bank (ANZ.AU) Wednesday reported a 10% rise in net profit to A$2.92 billion for the first half of 2012, driven by stronger results from int...
The Daily Caller’s Michelle Fields discusses why much of America’s youth sides with the president.
HSBC economists said Friday that they believe Australian consumer inflation will need to come in at 0.6% or below for the Reserve Bank of Australia to cut interest r...
Brazil's leading state-controlled bank, Banco do Brasil (BBAS3.BR, BDORY), will cut interest rates on a series of consumer and business loans beginning Monday, the b...
HDFC Bank Ltd. (500180.BY) Wednesday reported a more than 30% jump in its fiscal fourth-quarter net profit, broadly in line with expectations, as demand for retail l...
Markets.com Chief Economist Bill Hubard on the lack of effective financial leadership in the EU.
Australia's government risks "squandering" the opportunity to harness the wealth of the mining boom for future generations, according to the chief executive of Sunco...
Credit Suisse AG (CS) trimmed its short-term forecasts for the euro and Australian dollar Friday, citing weaker market confidence and expectations of further monetar...
Brazil's government-controlled bank Caixa Economica Federal, or CEF, on Thursday disclosed a new reduction of interest rates, amid government efforts to reduce rates...
Australian lender Bendigo & Adelaide Bank (BEN.AU) on Friday became the latest among peers to cut its standard variable home loan rate in the wake of a 50-basis-poin...
European Central Bank President Mario Draghi on Thursday said the bank's Governing Council didn't discuss a rate cut at its policy meeting in Barcelona. Speaking at ...
The euro erased losses against the dollar on Thursday after European Central Bank President Mario Draghi said the policy committee didn't discuss an interest-rate cu...
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