The Bank of England (BOE) followed the steps of the European Central Bank (ECB) earlier this week. This morning came news that England’s overnight and short-term rates would be kept static at 0.50%. While England is not in the same boat as the ECB, it is right across the channel and its banks have many overlaps in Europe.
With Spain on the path to having to take a bailout of some sort and with Greece on the ropes, the state of the Euro is one which would pressure England due to so many business overlaps. There has been some growing pressure for the BoE to institute more stimulus measures, but what that will be is not yet known. The Europeans have an overnight right of 1.00% versus rates of only 0.50% in England, so England only has such much room to stimulate by classic rate cuts. One such call has come from Christine Lagarde of the International Monetary Fund.
More news ahead, more pain ahead…
JON C. OGG
Want to Retire Early? Start Here (Sponsor)
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Have questions about retirement or personal finance? Email us at [email protected]!
By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.
By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
