Markets welcome rise in base rates to 7%

Article Abstract:

UNited Kingdom interest rates have been raised to 7% by the Bank of England. This will mean higher mortgage payments and is opposed by industry. The Bank of England has stated that rates are consistent with the goal set for inflation, which has been taken to mean that new rate rises are not planned. Exporters face problems due to the high value of pound sterling, and the currency tends to rise with interest rates. The employers' organization, the CBI sees the statement that rates are not likely to rise further as positive.

United Kingdom, Economic policy

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The architect behind Independence Day

Article Abstract:

Bank of England Deputy Governor Mervyn King believes that Chancellor Gordon Brown was right to give the Bank the independence to set interest rates. However, he feels that extensive educational work will still be required to make clear the benefits of price stability. He denies that the Bank will push the UK economy into recession in order to ensure that prices do not rise. Indeed, he feels that it is not rational to believe that the UK can have permanently low inflation.

Officials and employees, Interview, King, Mervyn

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ECB plays guessing games with the market

Article Abstract:

Speculation about the European Central Bank's plans for interest rates is discussed. Economists feel that eurozone interest rates will begin to decline sooner or later.

Strategy & planning, European Union, Banking industry, Management, Planning, Europe, Economic aspects, European Union. European Central Bank

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