Monetary Policy Committee

Turkey’s Central Bank expects economic growth

Ankara - Muslimchronicle

Turkey’s central bank expects economic growth to remain robust in the third quarter following a 5.1 percent growth rate in the second quarter — Monetary Policy Committee decided to keep short-term interest rates steady. The one-week repo rate, also known as the bank’s policy rate, stayed at eight percent while the marginal funding and overnight borrowing rates also held atRead more

BoE’s Forbes: Weak wage growth may reflect temporary Brexit caution

London - Arab Today

Recent weakness in British pay growth likely reflects temporary caution about Brexit among employers, Bank of England (BoE) rate-setter Kristin Forbes said in a newspaper opinion piece published on Thursday. Minutes from this month’s policy decision said the most recent data on wages had been “notably weaker” than been expected, but Forbes suggested a rebound may be in the offing.Read more

Economy to pick up in fourth quarter due to faster remonetisation

Mumbai - Arab Today

Faster remonetisation and return of discretionary consumer demand will push economic activity in the latter part the fiscal, opined RBI Governor Urjit Patel while voting for no cut in interest rate earlier this month. Patel, during the two-day Monetary Policy Committee meeting on February 7-8, also said that shifting monetary policy stance from accommodative to neutral will provide sufficient flexibilityRead more

European banks see light at end of low-rates tunnel

Frankfurt/Paris - Arab Today

Rock-bottom interest rates hurt more big European banks in 2016 than in the previous year, but the worst could soon be over with the prospect of rising borrowing costs rippling from the US to Europe. Low rates, money printing and a penalty charge for hoarding cash have been at the heart of attempts to reinvigorate the 19-country euro zone economyRead more

BoE keeps benchmark interest rate at 0.5 percent

London - XINHUA

The Bank of England (BoE), Britain's central bank, held the benchmark interest rate at the record low of 0.5 percent, BoE announced on Thursday. At BoE' s Monetary Policy Committee (MPC) meeting ending on Wednesday, all nine members of the MPC voted to freeze the rates. The Committee also voted unanimously to keep the stock of purchased assets financed byRead more