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Michael Saunders, member of the Bank of England Monetary Policy Committee, said that it was necessary to raise interest rates in the coming years to keep inflation under control. He noted that inflationary pressures in the UK were increasing, as the weakness of the labor market was almost completely eliminated. Earlier, the head of the Bank of England, Mark Carney, in an interview with the BBC, said that the likely increase in the base interest rate of the Central Bank of England in the current year would be gradual. His statement caused a decrease in the pound sterling, and after the speech of Saunders the pound dropped to the dollar by 0.3% to 1 dollar 40 cents.
The Bank of England will announce next week how quickly it expects the economy to recover from the coronavirus pandemic, but it is unlikely to add to the 100 billion pounds of the fiscal package it released in June. Britain’s economy ...
Bloomberg News reported on Thursday that Elon Musk’s Space Exploration Technologies Corp. (SpaceX) is in talks to raise new funds at a valuation of $44 billion. The aerospace company said that it is in discussions with a number of investors ...
The Securities and Exchange Commission (SEC) announced on Monday that UBS Financial Services Inc. (UBSG) would pay more than $10 Million to resolve charges regarding certain municipal bond offerings. UBS has agreed to pay the fine after SEC ...
The second quarter likely saw South Korea’s economy hitting its sharpest downturn in over two decades, a Reuters survey showed on Tuesday. This was mainly from the pandemic dragging the labor market, consumer spending, and global export ...
The Bank of Thailand chief on Monday said that it could take several years for the country’s foreign tourism industry to recover as the economy continues to take a beating from the COVID-19 pandemic. The central bank expects foreign ...
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