Trade wars could shipwreck global economy, warns Mark Carney

Bank of England boss says Donald Trump’s widening trade spats and Brexit uncertainty are denting growthTrade tensions triggered by Donald Trump’s tariff policies could “shipwreck” the global economy and are having a chilling effect on growth, the gover…

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Financial regulation is costly and complex – time for a big tech solution

Cryptocurrencies, new payment systems and digital banking all signal a financial revolution that needs better oversightBanking supervision teams at the Bank of England “now receive the equivalent of twice the entire works of Shakespeare of reading each…

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Bank of England keeps rates unchanged as it cuts growth forecast to zero

Prospect of no-deal Brexit blamed for dragging back UK economy as rate left at 0.75% The Bank of England has warned that economic growth in Britain could grind to a halt during the second quarter amid mounting risks to the economy from a no-deal Brexit…

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Car price war and falling air fares cool UK inflation

Rise in interest rates unlikely, with CPI down to 2% in May from 2.1% in AprilA fall in transport costs and cheaper clothing brought to an end the recent rise in inflation that threatened to push the Bank of England to increase interest rates.Energy co…

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Donald Trump attacks ECB for ‘currency manipulation’

Global trade war fears deepen after US president reopens EU spat after talk of new rate cut planDonald Trump has accused the European Central Bank (ECB) of unfairly manipulating the euro, further raising the stakes for Washington in its trade and diplo…

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Critics of quantitative easing should consider the alternative | Barry Eichengreen

Political interference with fiscal policy is likelier if central banks shun QE in the next recessionThe policy interest rates of advanced-country central banks are stuck at uncomfortably low levels. And not just for the moment: a growing body of eviden…

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Reserve Bank interest rates: RBA cuts rates to historic low of 1.25% – live

The Reserve Bank has reduced the cash rate from 1.5% to 1.25% as expected. Follow the reaction live 7.32am BST NAB has also cut is rate by 0.25% 7.20am BST That’s about it for the blog. Thanks for reading on this momentous afternoon. Mortgage holders …

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