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Added on the 14/10/2016 17:04:53 - Copyright : Euronews EN
The Bank of England announces it will hold its key interest rate at 5.25 percent, a day after the Federal Reserve also froze borrowing costs as global inflation retreats. The BoE had already kept its rate steady at the central bank's previous monetary policy meeting in September, snapping a streak of 14 hikes in a row. But Governor Andrew Bailey says it is "much too early" to think about cutting rates. IMAGES
The Bank of England announces in a press conference it is hiking its key interest rate by 0.75 percentage points, the biggest increase in 33 years, to fight inflation set to peak around 11 percent in recession-hit Britain. The latest rate hike mirrors aggressive rate-tightening by central banks worldwide as economies battle the highest prices in decades. SOUNDBITE
BOE governor Mark Carney faces probing questions from UK politicians as the central bank prepares for the economic fallout from a referendum on EU membership - and warns of the impact on the economy and on the UK as a banking sector hub. David Pollard reports.
"My colleagues and I are acutely aware that high inflation imposes significant hardship as it erodes purchasing power," US Federal Reserve Chair Jerome Powell says in Washington. SOUNDBITE
The US Federal Reserve Chair Jerome Powell announces that interest rates wil remain unchanged for the fourth straight meeting. "As labor market tightness has eased and progress on inflation has continued, the risks to achieving our employment and inflation goals are moving into better balance," he says. SOUNDBITE
Smoke rises above Nur Shams camp for Palestinian refugees near the occupied West Bank city of Tulkarem, during an Israeli raid. IMAGES