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Other: BoE voted unanimously for 50bps rate cut
Thu, Oct 23 2008, 07:10 GMT
by KBC Market Research Desk
The Minutes of Bank of England special Monetary Policy Committee Meeting revealed that the Committee voted unanimously in favour of the proposition to reduce the bank rate by 50 basis points as part of a co-ordinated easing in monetary policy. They commented that conditions in international credit and money markets had deteriorated very markedly over the course of the past month and also indicated that the prospects for demand growth in the UK’s main export markets had deteriorated markedly over the month. It is also noteworthy that Governor Mervyn King explicitly confirmed that the UK is now entering a recession, which opens doors for another rate cut.
Published on Thu, Oct 23 2008, 07:13 GMT
Archive
- US: Payrolls report disappoints in June
Published On Fri, Jul 3 2009, 07:38 GMT - US: ADP employment report disappoints in June
Published On Thu, Jul 2 2009, 08:14 GMT - US: Consumer confidence deteriorates in June
Published On Wed, Jul 1 2009, 07:22 GMT - EMU: economic confidence improves further in June
Published On Tue, Jun 30 2009, 07:37 GMT - US: personal income surges due to fiscal stimulus
Published On Mon, Jun 29 2009, 07:26 GMT
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This non-exhaustive information is based on short-term forecasts for expected developments on the financial markets. KBC Bank cannot guarantee that these forecasts will materialize and cannot be held liable in any way for direct or consequential loss arising from any use of this document or its content. The document is not intended as personalized investment advice and does not constitute a recommendation to buy, sell or hold investments described herein. Although information has been obtained from and is based upon sources KBC believes to be reliable, KBC does not guarantee the accuracy of this information, which may be incomplete or condensed. All opinions and estimates constitute a KBC judgment as of the data of the report and are subject to change without notice.Related reports
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