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Bank of England decides to maintain interest rate at 0.1%, Although the number of Americans receiving unemployment benefits fell last week, it was not as good as market expectations

Bank of England decides to maintain interest rate at 0.1%
After the interest rate meeting of the Bank of England, the Policy Committee (MPC) decided to keep the interest rate unchanged at 0.1% by a 9:0 vote. And decided to expand the asset purchase scale from 100 billion pounds to 745 billion pounds with 8:1 votes, and is expected to complete the bond purchase around the end of the year. The action is in line with market expectations. The Bank of England statement stated that recent data show that the local economy has recovered from May this year, which does not rule out the degree of local economic contraction in the second quarter, which is lighter than expected in May. However, due to the substantial weakening of the local labor force, preparations have been made for further action to stimulate the economy, but there is no mention of whether the negative interest rate policy will be implemented.

Although the number of Americans receiving unemployment benefits fell last week, it was not as good as market expectations
The number of people receiving unemployment benefits in the United States dropped further to 1.508 million last week, the 11th consecutive week of decline, but it was less than the market expectation of 1.3 million. It was also the 13th consecutive week that the number of people exceeded 1 million, and the previous value was revised to 1.566 million. . In the same period, the number of people who continuously applied for unemployment relief was 20.504 million, a decrease of 62,000 on a weekly basis, which also exceeded market expectations of 19.8 million. The number of Americans receiving initial unemployment benefits fell short of expectations, increasing market concerns that the epidemic will continue to hit the job market.

 




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