Daily Archives: March 8, 2012

Claire Jones

The European Central Bank’s governing council has kept rates at 1 per cent.

Mr Draghi’s presser will begin at 14.30 local time (13.30 GMT). Click here for more on what to expect. 

While Brazil surprised the markets with a bigger-than-expected interest rate cut, South Korea and Indonesia on Thursday delivered exactly what had been predicted. 

The Bank of Korea and Bank Indonesia both left rates unchanged – in a clear sign that concerns about the impact of rising oil prices on inflation are matching worries about the threats to global growth coming from the eurozone. It’s a striking shift for Indonesia, which has – like Brazil – been a standard-bearer for aggressive pro-growth rate cuts.

 

Claire Jones

As expected, the Bank of England has held bank rate at 0.5 per cent and the size of the asset purchase programme at £325bn.

The minutes of the meeting will be published at 09.30 on 21 March.