dan24 ha scritto:
Boe tassi fermi
UPDATE: Bank Of England Holds U.K. Rates Steady
Thu, Mar 6 2008, 12:12 GMT
http://www.djnewswires.com/eu
UPDATE: Bank Of England Holds U.K. Rates Steady
By William L. Watts
LONDON (Dow Jones) -- The Bank of England stood pat Thursday, holding its key lending rate at 5.25% after cutting by a quarter of a percentage point in February.
The decision was no surprise. Concerns about near-term inflation pressures and, more important, longer-term inflation expectations, were widely expected to trump concerns about an eventual economic slowdown.
The decision comes despite signs of softness in the first quarter, including sluggish manufacturing data from January and indicators that consumer confidence is on the wane amid a cooling housing market and rising food and energy prices.
House prices are also under pressure. A U.K. house price survey released Thursday showed prices posted a monthly fall of 0.3% in February, and were 4.2% higher than a year ago -- in line with market expectations.
The Halifax house price survey found the average home price in the U.K. had increased by 4,390 pounds over the past year to 196,649 pounds.
But not all economic indicators have been gloomy. A widely watched gauge of activity in the service sector posted a stronger-than-expected rebound in February, with the services purchasing managers index rising to 54.0 from a January reading of 52.5 and defying market expectations for a further slide to 52.0. A reading of more than 50 indicates expansion, while a reading of less than 50 marks a contraction.
Meanwhile, several Bank of England policymakers have underlined concerns about containing inflation expectations over the long term.
U.K. inflation is likely to spike higher in coming months, fueled in part by higher utility bills, Bank of England Deputy Governor Rachel Lomax noted in a speech last week. There's nothing the bank's policymakers can do to prevent a near-term increase in inflation, she said, but its impact on monetary policy will depend on whether people recognize the temporary nature of the pick-up in inflation.
Moreover, the minutes of the committee's February meeting indicated that policymakers were "willing to accept a marked slowdown in growth in order to contain inflationary pressures," noted economists at the Royal Bank of Scotland ahead of Thursday's meeting.
(END) Dow Jones Newswires
March 06, 2008 07:12 ET (12:12 GMT)
le minute il 19 marzo...
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comunque nulla di nuovo....