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Bank tries ‘last heave’ with £25bn boost

The Bank of England will pump another £25bn into the economy, which remained mired in recession in the third quarter, in what was described as ‘one last heave’ to propel growth

NZ dollar falls after central bank warning

The pound recovered from early losses against the dollar on Thursday after the Bank of England extended its asset purchase plan by less than some had forecast.

Fed spells out stance on rates

The Federal Reserve signalled that it expected to keep interest rates near zero for at least six months, but for the first time identified factors that could lead to earlier rises

Markets await MPC move on easing

This week’s meeting of the Bank of England’s monetary policy committee has markets waiting to see whether it can offer the economy a further shot in the arm

Related content and features

Interactive

Tackling inflation

As global growth slows, we track inflation in key economies and how central banks have adjusted interest rates in response

Have your say on the interest rate cut

Is the MPC decision good news or is it time to panic?

Inflation

Rate cut startles markets

Chris Giles

Video: The Bank of England has cut UK interest rates to 3 per cent. Chris Giles examines the reasons behind the move

    MPC decisions charted

    MPC

    The Bank of England’s monetary policy committee voted at its July meeting to not expand its £125bn programme of quantitative easing, but will review its decision in August. See how MPC members have voted

      Comment

      We must not be too late with starting the Big Exit

      Wolfgang Munchau

      If we stick to the zero interest rate policy for too long, we risk a degree of economic instability much more extreme and costly than the recent financial crisis, writes Wolfgang Münchau

      They must plan their exits

      Investors will soon face a period when they can no longer rely on central banks to backstop the financial system, writes Michael Mackenzie

      Short View: Central banks

      Since March, markets have been driven by a re-rating of the economic outlook as investors increasingly believe in an imminent recovery, writes Jennifer Hughes

      Why the Fed should be given more powers

      Last year’s financial disaster has made clear that system-wide regulation is now mandatory.The Fed is the only qualified party to take on this role by Roger Altman

      New powers for Federal Reserve

      The sweeping powers US Treasury secretary Timothy Geithner’s legislative proposal grants the government are what give the bill both its strengths and its weaknesses

      Towards the next peak

      Central bankers at Jackson Hole

      Global economy: As demonstrated at the Fed gathering that preceded Ben Bernanke’s renomination, world central bankers know their jobs will change but diverge on what to do differently

      Central banks can adapt to life below zero

      At rates of minus 1 or 2 per cent, people would still opt to hold cash in deposits rather than taking the trouble to hide it under a mattress and hire round-the-clock security guards, writes Wolfgang Münchau

      The case against Bernanke

      Ben Bernanke lacked the foresight and courage to resist the most reckless tendencies of the era of excess, writes Stephen Roach

      Blogs

      What’s next for central banks

      After the US Federal Reserve slashed interest rates to nearly zero, Willem Buiter asks what else can be done by the central banks? Quantitative easing and qualitative easing are next

        Quantitative easing: Lessons from Japan

        As the recession deepens, policy rates around the world are rapidly approaching zero and they cannot go any lower. Have central bankers run out of ammunition? Not necessarily

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