• Thursday, June 13, 2019 - 06:05

    By Luke Heighton

    BERN (MNI) - The Swiss National Bank (SNB) could lower its already negative interest rates still further should the economic situation demand it, Governor Thomas Jordan said Thursday.

    "We still have room to manoeuvre, we can go to an even more expansionary monetary policy," Jordan said. "We have sufficient room to change our monetary policy in order to react to certain shocks."

    Asked when the SNB might return to positive interest rates, Jordan said: "If you look at the global economy at this moment, the point of time when interest rates will go up is probably postponed and pushed further into the future.

  • Tuesday, June 11, 2019 - 06:01

    By David Robinson

    LONDON (MNI) - Bank of England Monetary Policy Committee member Michael Saunders said Brexit was to blame for the disconnect between his message that more tightening was likely to be needed and market rate expectations of no rate hikes through 2020.

    "The disconnect is more to do with Brexit assumptions" than MPC communication, Saunders said in evidence to the Treasury Select Committee.

    --Saunders noted that the MPC's fan-charts, its probabilistic growth and inflation projections, under-estimated the uncertainty of the outlook by excluding the no-deal and remain options.

    "If either were to become the central case, the economic outlook could change materially," Saunders said in his written evidence.

    --Saunders said a no deal Brexit would likel

  • Tuesday, June 11, 2019 - 04:49

    By Les Commons and Laurie Laird

    LONDON (MNI) - The robust UK jobs market confounded forecasts of a slowdown in the three months to April, with employment and regular earnings both recording healthy gains.

    The following are the key points from the February to April employment reported released on Tuesday by the Office for National Statistics.

    - Employment increased by 32,000, well ahead of single-digit gains expected by analysts. The employment rate remained at a record high 76.1%.

    - The LFS unemployment rate remained at 3.8%, matching its lowest level since the last quarter of 1974.

    - Regular earnings growth exceeded expectations, rising by 3.4% after a 3.3% gain in the first quarter.