Banking Latest News: Bank of England Hints Policy to Remain Loose

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Banking Latest News: Bank of England Hints Policy to Remain Loose

by Wochit 0:56 mins

Banking Latest News: Bank of England Hints Policy to Remain Loose

by Wochit 0:56 mins

The Bank of England refrained from pumping more money into the U.K. economy, citing signs of growth,as it held its first meeting since the arrival of the new governor, Mark Carney. But stocks rallied on expectations the central-bank will keep its monetary-policy loose for some time. The European Central Bank left interest rates unchanged and will try to reassure investors rattled by new turmoil in Europe and the U.S. Federal Reserve's plans to begin winding up its stimulus. European Central Bank President Mario Draghi has underlined the bank's determination to stick with stimulus for the struggling eurozone, saying the bank will keep its benchmark interest rate the same or lower "for an extended period of time."

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