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14th of November 2010
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News Tag: meeting

November 12, 2010

Markets recover on Irish bailout talks

by Kay Murchie
Markets recover on Irish bailout talks
Talks of an EU bailout for Ireland triggered a recovery in shares today, while yields on 10-year Irish bonds also fell back on emergency funding speculation. Earlier today, UK and Europe stock markets followed losses in Asia and the US overnight after Irish borrowing costs surged to record highs. However, claims that Ireland will have to turn to the EU rescue fund appeared ...




November 3, 2010

Fed restarts stimulus programme as expected

by Kay Murchie
’Fed
Following a two-day meeting, US central bank, the Federal Reserve, has announced it will introduce a fresh round of stimulus. The move was widely expected after concerns for the US economic recovery amid low inflation and rising unemployment. The Federal Open Market Committee (FOMC) has agreed to inject an additional $600 billion (£373 billion), albeit higher than the $500 billion expected by many ...




October 24, 2010

G20 moves to prevent currency war

by Kay Murchie
’G20
A gathering of finance ministers and central bankers in Gyeongju, South Korea, has taken place this weekend and high on the agenda was the threat of a currency war. The currency issue was left unresolved earlier this month after the International Monetary Fund (IMF) and World Bank annual meeting in Washington failed to reach an agreement. Some Governments have been accused of manipulating ...




October 20, 2010

BoE minutes reveal three-way split

by Kay Murchie
’BoE
Minutes of the Bank of England’s October meeting have been released today and have revealed that the Monetary Policy Committee (MPC) were split three ways. Adam Posen called for an injection of £50 billion via its quantitative easing (QE) programme to boost the economy. For the fifth consecutive month, policymaker Andrew Sentance voted for interest rates to be lifted from 0.5% to 0.75% to ...




October 13, 2010

US Federal Reserve expected to introduce further QE

by Kay Murchie
’US
The FTSE 100 received a boost today after speculation that the US Federal Reserve will provide extra stimulus to strengthen the economy. The news emerged from the Fed’s minutes from the most recent FOMC meeting, which cheered investors. The FTSE closed up 85.76 points, at 5,747.35 - its highest closing level since April 26, and its biggest one-day percentage increase ...




October 11, 2010

US dollar weakens vs. yen, yuan tensions continue

by Kay Murchie
’US
The US dollar has fallen to a fresh 15-year low against the Japanese yen today after this weekend’s International Monetary Fund (IMF) annual meeting in Washington failed to resolve the currency issue. Last week, the IMF expressed its concern for a currency war and said if Governments across the world use exchange rates as a policy weapon, there could ...




October 10, 2010

IMF gathering fails to tackle threat of currency war

by Kay Murchie
’IMF
Last week, the International Monetary Fund (IMF) expressed its concern for a currency war. The Fund said if Governments across the world use exchange rates as a policy weapon, there could be a serious risk to global economic recovery. However, this weekend’s IMF and World Bank annual meeting in Washington saw the currency issue unresolved. Some Governments have been accused of ...




September 24, 2010

Obama presses China over yuan issues

by Kay Murchie
Obama presses China over yuan issues
Following a "candid" two-hour meeting yesterday between Chinese Premier, Wen Jiabao, and US President, Barack Obama, it appears China will still not bow to pressure over its currency. The object of the meeting was to urge China to revalue its currency, the yuan. The US has previously expressed dissatisfaction that China is keeping the value of the yuan low to help its ...




September 22, 2010

Policymaker Andrew Sentance continues argument for higher interest rates

by Kay Murchie
’Policymaker
Minutes of the Bank of England’s September meeting have been released today and have revealed that the Monetary Policy Committee (MPC), again, voted 8-1 earlier this month to keep interest rates at the historic low of 0.5% – where they have been since March 2009. For several months now, the decision was not unanimous after policymaker Andrew Sentance ...




September 13, 2010

Britain’s trade unions support strikes against austerity measures

by Kay Murchie
”Britain’s
It has been announced that the tough austerity measures introduced by the coalition Government are set to lead to industrial action following a trade union gathering in Manchester today. At the annual Trades Union Congress (TUC) meeting, union leaders urged delegates to "stand up and fight" against the massive spending cuts. The motion was supported by an overwhelming majority of ...




September 12, 2010

Global regulators meet to agree stricter bank rules

by Kay Murchie
’Global
As the second anniversary of the Lehman Brother collapse nears, regulators and central bank governors have met in Basel, Switzerland this weekend to discuss tougher capital rules. The agreement could force banks to raise fresh equity in order to withstand future downturns in the global financial system. Following the global financial crisis, the G20 leading nations urged regulators and central bankers ...




August 4, 2010

BoE expected to keep interest rates on hold tomorrow

by Kay Murchie
’BoE
The Bank of England’s Monetary Policy Committee (MPC) is tomorrow expected to keep UK interest rates on hold at the historically low level of 0.5% for the 18th consecutive month. Furthermore, all members of the MPC are expected to keep the quantitative easing programme (QE) on hold. QE, also known as printing money, is a process whereby the Treasury ...




July 21, 2010

Bank voted 7-1 to hold rates in July

by Kay Murchie
’Bank
Minutes of the Bank of England’s July meeting have been released today and have revealed that the Monetary Policy Committee (MPC) voted 7-1 earlier this month to keep interest rates at the historic low of 0.5% – where they have been since March 2009. Again, the usual nine-strong committee comprised of only eight members as Kate Barker’s term ...




July 7, 2010

BoE expected to keep interest rates on hold tomorrow

by Kay Murchie
’BoE
The Bank of England’s Monetary Policy Committee (MPC) is tomorrow expected to keep UK interest rates on hold at the historically low level of 0.5% for the 17th consecutive month. Furthermore, all members of the MPC are expected to keep the quantitative easing programme (QE) on hold. QE, also known as printing money, is a process whereby the ...




June 17, 2010

BP shares up 9% as compensation fund unveiled

by Kay Murchie
BP shares up 9% as compensation fund unveiled
BP shares have risen more than 9% this morning after it was revealed that a $20 billion (£13.5 billion) compensation fund for victims of the Gulf of Mexico oil leak is to be set up. Details of the fund emerged late yesterday following talks at the White House after BP’s chief executive Tony Hayward and chairman Carl-Henric Svanberg, were summoned ...




June 16, 2010

BA and union talks collapse again

by Kay Murchie
’BA
The latest meeting between British Airways (BA) and the Unite union, designed to come to an agreement about strike action has yet again failed, according to the ACAS conciliation service. The fresh talks came a week after the union, which represents BA cabin crew, confirmed a fresh ballot for its members, suggesting further industrial action at the airline. The fresh ballot will ...




June 6, 2010

Germany plans tough spending cuts

by Kay Murchie
Germany plans tough spending cuts
Germany has announced this weekend that it plans to bring its deficit down to meet EU rules. Chancellor Angela Merkel is heading up a two-day cabinet meeting to devise a savings plan for the country's budget, which is expected to see tough measures including road tolls, tax hikes and cuts to welfare. The country’s public deficit currently stands at 3.3% of GDP and ...




May 21, 2010

Cameron: “We were right not to join the euro”

by Kay Murchie
Cameron: “We were right not to join the euro”
David Cameron, Britain's new Prime Minister, has defended the former Government’s decision to keep Britain out of the euro. On his first overseas trip since becoming PM, Mr Cameron met French President, Nicolas Sarkozy, at the Elysee Palace in Paris yesterday. Today, he will travel to Germany to meet with Chancellor Angela Merkel. Mr Cameron said: "We were right not ...




Global shares continue to fall over euro debt fears

by Kay Murchie
Global shares continue to fall over euro debt fears
Ongoing fears that the euro zone debt crisis could spread throughout the world sent Asian markets falling today with Japan's Nikkei index down 246 points to 9,784.54. Over the week, the index has lost over 6.5% - its largest weekly drop since January 2009. On Wall Street yesterday, the Dow Jones industrial average slumped 376.36 points (3.6%) to ...




May 19, 2010

Bank voted 9-0 to hold rates in May despite inflationary pressures

by Kay Murchie
’Bank
Minutes of the Bank of England’s May meeting have been released today and have revealed that the Monetary Policy Committee (MPC) voted unanimously earlier this month to keep interest rates at the historic low of 0.5%. Furthermore, all nine members of the MPC opted to keep the quantitative easing (QE) on hold. QE, also known as ...




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