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17 Mar 2020

UK OBR’s Bean: BOE rate cut unlikely to help economy much in short run, credit measures more important

The UK Office for Budget Responsibility (OBR) macroeconomic adviser and the former Bank of England (BOE) Deputy Governor Charlie Bean, said on Tuesday that he does not think the BOE rate cut is likely to help the economy much in the short run, credit measures more important.

Additional quotes

Trying to provide economic forecasts for next year or two is "pie in the sky".

"very good argument" that state should act as insurer against coronavirus losses.

Commercial insurers potentially may not be able to afford coronavirus losses.

Evidence from financial crisis is that big early action is better than half-hearted action later.

OBR’s Chote said that in some ways coronavirus is more like a wartime policy challenge, with the government seeking to direct production of ventilators.

  • GBP/USD remains pressured below 1.22 as UK jobless rate ticks higher to 3.9% in Jan
  • GBP/JPY slides further below 130.00 mark, closer to multi-month lows post-UK jobs data
Mar 17, 2020

GBP/JPY slides further below 130.00 mark, closer to multi-month lows post-UK jobs data

The selling pressure around the British pound picked up pace in the last hour and dragged the G BP/JPY cross further below the key 130.00 psychologica
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Mar 17, 2020

Japan may extend tax cuts for small firms as part of stimulus to cope with coronavirus - Nikkei

The Nikkei Asian Review reports, citing sources familiar with the matter, Japanese government may extend tax cuts for small firms with eye on fixed pr
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