monetary policy of boe

Fed to Safeguard Financial System, Says Fed Governor Duke

The U.S. banking system is facing serious challenges, but the Federal Reserve will continue to ensure that the banking system remains safe and sound and is able to meet the credit needs of our economy, Fed Governor Elizabeth Duke said before the House Financial Services Committee on Wednesday.While the Fed Governor gave lawmakers little new information regarding the state of the economy or monetary policy, she did point out that as the global economy begins to recover,

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BOE's Bean Says Quantitative Easing is the Next Step

(CEP News) - Bank of England Deputy Governor Charles Bean said Monday that quantitative easing is the next logical step now that rates are so low.Speaking in Birmingham, England, he said the bank made its first buy under the asset purchase facility as of Friday. He also said the monetary policy committee may have to act to avoid undershooting mid-term inflation goals. The bank's target rate currently sits at 1.00%. The bank's next meeting is on March 5.Bean

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ECB May Turn to "Unconventional Policy" If Rates Reach Limit, Wellink Says

Frankfurt - The European Central Bank may take unconventional measures if its key policy rate hits its lower boundary, ECB Governing Council member Nout Wellink said on Thursday.The ECB could use unconventional monetary policy, on top of the unusual expansion already implemented, if the interest rate instrument can't be used further because of [almost] reaching the zero-rate limit, Wellink said in the Nederlandsche Bank's annual report.The policy maker also said that months of negative price growth could not

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Fed's Kohn Says More Can Be Done to Restore Credit if Necessary

The Fed may have to do more to restore the flow of credit, Fed Vice-Chairman Donald Kohn said on Friday.U.S. policymakers and central banker must remain very flexible and open to policy actions that had no precedent, Kohn said, pledging that policy-makers would continue to adapt our policies as necessary to accomplish, a recovery of the financial system and consequently the broader economy.Nevertheless, many financial market sectors remain under considerable stress and much has to be done

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BOE's Barker Says UK Recovery Could Take Longer Than Expected

The Bank of England's low interest rates will help the economy recover, but the recovery could take longer than expected, Bank of England Monetary Policy Committee member Kate Barker said on Wednesday.Speaking in an interview with Northern Echo newspaper, the central banker said the UK is experiencing a deep recession, which is being fought with powerful policies at the monetary and legislative levels.Although growth may not resume until the end of this year, a decline in the

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BOE's Blanchflower Calls on BOE & Government to Consider Recession Policies

Speaking at the University of Nottingham, the reputedly dovish central banker acknowledged that the recent policy announcements made by government and the BOE, including an ambitious quantitative easing policy from the central bank worth £50 billion was, a step in the right direction. But we need to do more, he said. Past recessions have typically been associated with five quarters of negative growth, it has usually taken around three years to regain the pre-recession level of output and the deterioration

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ECB's Nowotny Says Rates Below 1.00% "Open For Dicussion"

The view that interest rates in the euro zone should go below the 1.00% mark is open for discussion, but Austrian central bank governor Ewald Nowotny said he is personally against lowering rates below that threshold.Speaking in an interview with Bloomberg News on Thursday, Nowotny said the ECB must fight the crisis with all available tools, and that monetary policy needs to remain expansionary as the economic recovery remains weak.He also said that it would be sensible

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ECB Does Not Feel Restricted By Monetary Policy, Says Bini Smaghi

The European Central bank does not feel constrained in its monetary policy options, according to European Central Bank Governing Council member Lorenzo Bin Smaghi on Friday.We don't feel constrained, said the central banker, adding that the ECB is flexible when making its monetary policy. We've been able to take decisions in five minutes and we've done things rapidly, he said.Bini Smaghi went on to predict a bottoming in euro zone economic growth sometime towards the end of

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Forex: USD/CAD collapses after BoC policy report

FXstreet.com (Barcelona) - CAD is rising against the USD after BoC report which didn't contain immediate measures about quantative easing or credit conditions. USD/CAD has fallen around 140 pips from 1.2380, break 1.2330 support and reach to 1.2238, intra-day low. Currently the pair is trading around 1.2275/85 after falling 0.90% so far today from 1.2392 opening price.Valeria Bednarik, FXstreet.com collaborator, comments related to the BoC report: The Bank of Canada present their monetary policy report, announcing additional easing measures,

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GBP/USD: Pound drops to 1.5050 after BoE monetary policy decision

FXstreet.com (Barcelona) ? BoE monetary policy decision has weighed on the Pound which has dropped to afresh intra-day low at 1.5050 from levels around 1.5065 before the Bank released its decisionOn the downside, if the Pound consolidates below 1.5070 previous intra-day low, next support level could come at 1.4980/90 (May 6 low); below there, 1.4945 (Apr 30 high). On the upside, resistance levels remain at 1.5165 (May 5 high) and above there, 1.5200 intra-day high and 1.5370.GBP/JPY has also dropped

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