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BoE Raises QE By GBP 50 Bln To GBP 325 Bln

(RTTNews.com) – The Bank of England on Thursday decided to pump additional GBP 50 billion into the economy and to retain its record low interest rate.

The Monetary Policy Committee led by Governor Mervyn King raised the size of quantitative easing by GBP 50 billion to GBP 325 billion. The programme is expected to take three months to complete.

The bank said, The Committee judged that the weak near-term growth outlook and associated downward pressure from economic slack meant that, without further monetary stimulus, it was more likely than not that inflation would undershoot the 2% target in the medium term.

Policy...

The Bank of Thailand (BOT)s monetary policy might lose its effectiveness in influencing the market if state-owned banks are excluded, a leading banker says.

Apisak Tantivorawong, president of the state-owned Krung Thai Bank, said after the Thai Bankers Association’s video conference on Wednesday that commercial banks are willing to contribute extra fees if state-owned banks are required to do the same.

He added that commercial banks have faced stiff competition on deposit mobilsation from state-owned banks. Their market share has risen to 30 per cent.

He said that if state-run banks, which are regulated by the Finance Ministry, are not required to pay a higher...

UPDATE:The ECB decided this morning to hold rates steady at 1.00%.

This was no surprise to analysts, who largely expected this decision.

ECB President Mario Draghis press conference at 8:30 AM ET will probably be more interesting.

Heres the release:

At todays meeting the Governing Council of the ECB decided that the interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged at 1.00%, 1.75% and 0.25% respectively.

The President of the ECB will comment on the considerations underlying these decisions at a press conference starting at 2.30 pm CET today.

ORIGINAL:The...

Feb. 9 (Bloomberg) — Chinas inflation unexpectedly accelerated in January on the boost to spending from a weeklong holiday, limiting room for monetary easing as Europes debt crisis damps exports and the property market cools.

Consumer prices rose 4.5 percent from a year earlier, the National Bureau of Statistics said on its website today. That was more than all 33 forecasts in a Bloomberg News survey of economists and a median of 4 percent.

Inflation quickening for the first time in six months adds pressure on officials to refrain from any immediate additional cut in banks reserve requirements. The government may wait to see data free from holiday distortions as UBS AG predicts...

Indian markets are set to witness big gains in 2012. Whats more, mid cap and small cap stocks might bounce back this year,Gautam Chhaochharia, Executive Director and Head of India Mid Cap Research at UBS Securities, told NDTV Profit today.

We are positive on Indian markets for two reasons… The big difference is 2011 was a year of monetary tightening while 2012 looks like a monetary easing year. Markets react positively to monetary easing. Secondly, the big issues of last year -politics, issues in implementation of politics, budget approval- seem to be bottoming out in 2012, he said.

Market outlook:

An upside both in markets and stocks.

Why:

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Thu, Feb 9 2012, 12:20 GMT
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Richard Cox

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