Poor data raises chances of UK rate cut
Worse-than-expected growth and woeful housing statistics have increased the likelihood that the Bank of England will move to cut rates next month.
The United Kingdom's Office for National Statistics revised growth estimates for the third quarter down by ten basis points on Friday, from 0.8% to 0.7%. The British Banking Association (BBA), a trade body, revealed home mortgage approvals plunged to 44,000 in October, down by 10,000 - or 18.5% - from September, and more than 37% lower than in October
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
More on Monetary Policy
UK inflationary pressure easing, BoE deputy says
Ramsden breaks inflation process into four steps, finding persistent elements are weakening
ECB should cut rates in next meeting, French governor says
Villeroy de Galhau says last leg of disinflation in eurozone should not be too difficult
Bank of Korea considering forward guidance reform
Governor Rhee Chang-yong sees merit in revealing more information to public
Fed policy-makers disagree over risks
Williams and Goolsbee say policy is restrictive but Logan takes different view
PBoC withdraws liquidity and holds key rate
Policy-makers refrain from easing despite weak inflation and exports data
Taking stock of Bernanke: the original sin of forecasting
Jagjit Chadha says the Bernanke review should be the start of more profound discussion at the BoE
Peru’s board cuts interest rates by 25 basis points
Central bank says inflation should continue falling towards centre of target range
South Korea keeps monetary policy unchanged
Board says it would be premature to expect inflation to fall to target level despite improvement
Most read
- Supervisors grapple with the smaller bank dilemma
- Fed policy-makers disagree over risks
- Schnabel: ECB could replace central forecast scenario