1.
U.S. markets recover from steep losses
LONDON, Jan. 21 (UPI) -- Bank of England Gov. Mervyn King said the bank might resort to buying bonds from financial firms and the Treasury to restore lending and combat deflation.
With key lending rates at the central bank at a record low of 1.5 percent, the bank is preparing to unleash "unconventional measures," which would include a strategy of "quantitative easing," King said.
King said the bank was not quite ready to take the step that would be the equivalent of "printing money," The Times of London reported Wednesday.
Inflation in Britain fell to 3.1 percent in December, its steepest monthly drop in 17 years and the lowest it has been since April 2008. The bank's target rate for inflation is 2 percent.
King said the bank was also actively considering purchasing loan assets from banks. The Treasury, on Monday, gave the Bank of England the power to make such purchases, The Times said.
|
|
|
|
|
|
| Additional Business News Stories | |
BEIJING, May 24 (UPI) --
China National Offshore Oil Corp. announced Thursday it made a new oil discovery in the shallow waters of south Liaodong Bay.
|
LISLE, Ill., May 24 (UPI) --
A new special operations tactical vehicle has been unveiled by three U.S. companies.
|
First-time buyers are driving the expectations that a recovery has begun. Their numbers and market share are growing despite financing roadblocks and competition with investors for entry-level homes. ...
|
It is a whole new ball of wax in Europe these days.
|
| Stories | Photos | People | Comments |
View Caption
