The Turkish lira hit a record low against the dollar, as investors assess the possibility of a central bank raising interest rate during its meeting this week to limit the currency’s decline. The lira recorded 7.6440 against the dollar at 06:00 GMT, the lowest level ever after it recorded 7.6365 …
Read More »Bailey: BoE’s Latest Statement Was no Negative Rate Hint
Governor Andrew Bailey said the Bank of England’s latest policy statement did not imply it would necessarily use negative interest rates, and that observers should not read too much into it. “It doesn’t imply anything about the possibility of us using negative instruments,” Bailey told an online talk hosted by …
Read More »BOE’s Bailey: UK Economy Can be Viewed as Glass Half Full or Half Empty
“The UK economy can be viewed as a glass half full or half empty,” the Bank of England (BOE) Governor Andrew Bailey said while speaking at a webinar hosted by the British Chamber of Commerce on Tuesday. Quotes“UK recovery has been quite rapid and quite substantial.““Below the surface recovery is …
Read More »Deutsche Bank: Global Output Will Return to Pre-COVID-19 Levels Mid-2021
Deutsche Bank said Monday, September 21 that global economic output will return to its pre-pandemic level by mid-2021, after a stronger-than-expected economic recovery in recent months, but higher debt levels and a policy shift could increase the risk of a financial crisis. “The global economic recovery from the steepest levels …
Read More »Lira Hits a Fresh low, All Eyes on CBRT
The Turkish lira retreated to a fresh record low at 7.58 against the dollar as attention shifted towards the central bank meeting scheduled for September 24 and the possibility of more indirect monetary tightening measures or even an outright interest rate hike. At 06:52 GMT, the lira was only slightly …
Read More »US Current Account Deficit Jumps 53% in Q2
The US current account deficit rose to the highest level in nearly 12 months in Q2, as the Covid-19 pandemic put pressure on exports of goods and services. The US Commerce Department said the current account deficit, which measures the flow of goods, services and investments into and out of …
Read More »Turkish Lira Hits a Fresh Low Against US Dollar
The Turkish lira fell to a fresh low against the dollar, as investors focused on the possible steps of the central bank to tighten monetary policy ahead of a policy meeting next Thursday. Lira touched a low of 7.5660, retreating from Thursday’s close of 7.5595. The Lira has fallen more …
Read More »U.S. Unemployment Claims Held Steady at 860,000 Last Week
The number of Americans filing for new unemployment benefits fell last week but remains stuck at extremely high levels as the labor market recovery slows and consumer spending slows down as the fiscal stimulus fades. The US Labor Department said that the total number of new applications for unemployment benefits, …
Read More »BoE Keeps Interest Rates Unchanged at 0.1%
The Bank of England decided to keep its monetary policy unchanged in interest rates, in line with expectations. The Bank of England’s monetary policy statement on Thursday showed that the bank decided to stabilize interest rates at 0.10%. Analysts had expected that the BOE would hold interest rates at 0.10%.
Read More »European New Car Sales Fall by 17.6% in August
Data revealed that new car registrations in Europe decreased in July and August, but not at the same level as the previous months, indicating a slow recovery in the European auto sector, which was severely affected by the Corona pandemic. In July, new car registrations dropped by 3.7% year-on-year to …
Read More »