Tag: target

UK inflation edges higher in August

UK inflation edges higher in August

The Office for National Statistics (ONS) today announced Consumer Price Inflation (CPI) rose to annual rate of 4.5% last month from July’s rate of 4.4%. However, the figure was in line with analysts’ expectations. Higher inflation continues to be led by rising food costs but the main reason behind last month’s rise was a 5.1% [...]

September 13, 2011 | 0 Comments More
Brazil in unexpected interest rate cut

Brazil in unexpected interest rate cut

Brazil’s central bank has cut the country’s key interest rate to 12% from 12.5% - a move which surprised economists. However, the bank said there had been a “substantial deterioration” in the outlook for the global economy and that was its reason for the rate cut. One analyst said the rate cut is a “huge [...]

September 1, 2011 | 0 Comments More
South Korea inflation jumps to three-year high

South Korea inflation jumps to three-year high

Statistics Korea has today revealed South Korea’s inflation rate jumped to a three-year high of 5.3% in August as food costs continued to rise. The rate is up from 4.7% in July and represents the eighth consecutive month that inflation has been above the central bank’s target of 4%. Inflationary pressures are rife throughout the [...]

September 1, 2011 | 0 Comments More
UK inflation jumps to 4.4% in July

UK inflation jumps to 4.4% in July

The Office for National Statistics (ONS) today announced Consumer Price Inflation (CPI) rose to annual rate of 4.4% last month after easing to 4.2% in June. Analysts had expected the figure to rise slightly to 4.3%. Higher inflation continues to be led by rising food costs – which grew by 6.2% in July, while clothes [...]

August 16, 2011 | 0 Comments More
Euro zone inflation falls in July

Euro zone inflation falls in July

According to a preliminary estimate from Eurostat today, euro zone inflation eased in July to 2.5% from 2.7% in June. The figures come despite figures earlier this week suggesting German inflation crept up to 2.4%. Despite the fall, inflation remains higher than the ECB’s target of just below 2% – and is expected to remain [...]

July 29, 2011 | 0 Comments More
UK public sector borrowing higher than forecasts in June

UK public sector borrowing higher than forecasts in June

The Office for National Statistics (ONS) has today revealed UK public sector borrowing rose last month. According to the ONS, public sector net borrowing rose to £14 billion last month compared with £13.6 billion June 2010. The figure was higher than analysts’ expectations and was attributed to a fall in income tax receipts. The figure [...]

July 21, 2011 | 0 Comments More
Bank minutes suggest low rates for some time to come

Bank minutes suggest low rates for some time to come

Minutes of the Bank of England’s July 6-7 meeting have been released today and have revealed the Monetary Policy Committee (MPC) again voted 7-2 to lift interest rates and 8-1 to restart the Bank’s quantitative easing (QE) scheme. Adam Posen, again, called for an injection of £50 billion via the QE scheme to boost the [...]

July 20, 2011 | 0 Comments More
Study reveals SMEs are getting credit

Study reveals SMEs are getting credit

A report has revealed that the majority of small and medium-sized enterprises (SMEs) are successful when applying for credit. According to the study, more than half (59%) of applicants were successful when applying for a loan, while 72% who applied for an overdraft were successful. The figures come from the latest SME Finance Monitor report [...]

July 11, 2011 | 0 Comments More
ECB lifts interest rates to 1.5%

ECB lifts interest rates to 1.5%

The European Central Bank (ECB) has today elected to lift interest rates from 1.25% to 1.5% - the second increase since April. The move comes to tame rising inflation in the 17-member euro zone and was widely expected by analysts and more rate rises are on the cards. Inflation in the euro zone currently stands [...]

July 7, 2011 | 0 Comments More
Just two policy members vote for interest rate rise

Just two policy members vote for interest rate rise

Minutes of the Bank of England’s June 8-9 meeting have been released today and have revealed the Monetary Policy Committee (MPC) voted 7-2 to lift interest rates and 8-1 to restart the Bank’s quantitative easing (QE) scheme. Adam Posen, again, called for an injection of £50 billion via the QE scheme to boost the economy. [...]

June 22, 2011 | 0 Comments More
BoE policymaker supports low interest rates

BoE policymaker supports low interest rates

One of the members of the Bank of England’s Monetary Policy Committee (MPC), Paul Fisher, has argued that the central bank is right to keep interest rates low. His comments come despite leading business groups urging the bank to lift rates to combat soaring inflation, which is currently more than double its 2% target. Last [...]

June 21, 2011 | 0 Comments More
BoE report suggests low interest rates in the short-term

BoE report suggests low interest rates in the short-term

In its influential Quarterly Bulletin, the Bank of England said interest rates can be held at the historic low of 0.5% in order to prevent growth from stalling. The statement comes despite inflation being more than double the target of 2% and many business groups are calling on the bank to lift rates to combat [...]

June 13, 2011 | 0 Comments More
South Korea lifts rates to combat inflation

South Korea lifts rates to combat inflation

South Korea’s central bank has today elected to lift interest rates in order tame high inflation. The move surprised analysts after the bank held interest rates last month and inflation fell to 4.1% in May, after reaching a 29-month high of 4.7% in March. Inflation remains at the higher end of the central bank’s 2%-4% [...]

June 10, 2011 | 0 Comments More
ECB keeps interest rates on hold

ECB keeps interest rates on hold

The European Central Bank (ECB) has today elected to keep interest rates on hold at 1.25% but hinted that rates may rise again next month. In April, the ECB lifted rates from 1% to 1.25% in a bid to tame rising inflation in the 17-member euro zone – it was the first time in almost [...]

June 9, 2011 | 0 Comments More
UK interest rates remain on hold

UK interest rates remain on hold

The Bank of England’s Monetary Policy Committee (MPC) has today elected to keep UK interest rates on hold at the historically low level of 0.5%, as widely expected. Interest rates have now been at this low level since March 2009 – when the economy was in the midst of recession. Recent figures show the economy [...]

June 9, 2011 | 0 Comments More
Policymaker against lifting interest rates

Policymaker against lifting interest rates

Policymaker Paul Fisher has said the Bank of England is right not to have lifted interest rates from their current low of 0.5%, suggesting the economy is still too fragile. His comments in the Daily Mail come despite calls from business groups to raise interest rates to curb inflation – which is currently running at [...]

June 2, 2011 | 0 Comments More
OECD: Bank of England should lift interest rates

OECD: Bank of England should lift interest rates

The Paris-based Organisation for Economic Cooperation and Development (OECD) has today said the Bank of England should lift interest rates to combat stubbornly high inflation. UK economic growth is being hampered by soaring inflation, which is having a major impact on consumer spending. As a result, the Organisation revised its growth forecasts for the UK, [...]

May 25, 2011 | 0 Comments More
Mortgage rescue scheme criticised by NAO

Mortgage rescue scheme criticised by NAO

The Mortgage Rescue Scheme has been criticised by the National Audit Office (NAO) for missing targets. The Scheme was established by the Labour Government in late 2008 to help struggling homeowners in England facing repossession and allowed people to sell their property to a local authority or housing association but stay on as a tenant. [...]

May 25, 2011 | 0 Comments More
Big five banks miss SME lending target

Big five banks miss SME lending target

Figures published by the Bank of England today have revealed that the “big five” banks loaned £16.8 billion to SMEs in the first quarter – around £2 billion short of the £19 billion target – agreed under the “Project Merlin”. Under the agreement, Project Merlin, Barclays, Royal Bank of Scotland, Lloyds, HSBC and Santander all [...]

May 23, 2011 | 0 Comments More
UK inflation soars to 2½-year high in April

UK inflation soars to 2½-year high in April

The Office for National Statistics (ONS) today announced Consumer Price Inflation (CPI) surged to an annual rate of 4.5% in April – a level not seen since October 2008 and higher than forecasts of a rise to 4.2%. The surprise surge in inflation comes after the rate dropped to 4% in March and was attributed [...]

May 17, 2011 | 0 Comments More