timesonline.co.uk - 1/8/2009
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Alistair Darling is considering printing more money in an attempt to ease the credit crunch. As interest rates appear certain to fall to an historic low today, the Chancellor and Mervyn King, the Governor of the Bank of England, are looking at expanding the money supply by billions and using ...
bloomberg.com - 1/8/2009
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bloomberg.com —
Jan. 8 (Bloomberg) -- The Bank of England
cut the benchmark interest rate to the lowest since...
the central bank was founded in 1694 as policy makers tried to prevent the credit squeeze from deepening Britain’s recession. The Monetary Policy Committee, ...
(more)
BOE Cuts Rate to Lowest Since Bank’s Creation in 1694 ...
business.timesonline.co.uk - 1/3/2009
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business.timesonline.co.uk —
Alistair Darling has been forced to consider a
second bailout for banks as the lending drought worsens....
The Chancellor will decide within weeks whether to pump billions more into the economy as evidence mounts that the 37 billion ...
(more)
Chancellor Alistair Darling on brink of second bailout ...
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Quantitative easing in the UK
FT Alphaville —
... is very much on the policy agenda: Mr Darling said that if rates fell close to zero, the central bank and Treasury would have to work “hand in hand”, since any operations by the Bank of England to print money would have to be authorised by him. His stance will disappoint many at the central bank who wanted to be given authority by the Treasury to operate quantitative easing - creating money to buy assets - within parameters agreed in advance. The Times picked up the bone today, running it on its front page. Which prompted a swift response from the Treasury, out moments ago: ...
Bank of England Set to Cut Rates to Record Low
Trader Daily Combined Feed —
... went into administration, putting at risk 450 jobs at stores around the country. Marks & Spencer confirmed that it was cutting 1,200 jobs and closing 27 stores. Another 1,000 jobs are under threat at Cattles, the finance firm, and Barclays cut 400 jobs from its IT departments.
Today base rates are expected to fall to their lowest level since the Bank of England was founded in 1694. The markets expect a drop of at least 0.5 points to 1.5 per cent or even lower.
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Business this week —
The Economist: Full print edition 1/8/2009
The Congressional Budget Office forecast that America’s budget deficit for the 2009 fiscal year would reach almost $1.2 trillion (close to $4,000 for every man, woman and child). The actual figure will probably be higher if Congress approves a ...
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