综合一区欧美国产,99国产麻豆免费精品,九九精品黄色录像,亚洲激情青青草,久久亚洲熟妇熟,中文字幕av在线播放,国产一区二区卡,九九久久国产精品,久久精品视频免费

USEUROPEAFRICAASIA 中文雙語Fran?ais
World
Home / World / Europe

UK interest rates rise for first time in a decade

By Conal Urquhart and Cecily Liu in London | chinadaily.com.cn | Updated: 2017-11-03 01:01

UK interest rates rise for first time in a decade

A man speaks on his phone outside the Bank of England in the City of London, Britain, August 23, 2017. [Photo/Agencies]

The Bank of England's decision to raise interest rates for the first time in 10 years will have minimal impact on the United Kingdom’s trade and investment relationship with China, according to business adviser Yu Zongwen.

The UK's central bank increased interest rates from a record low of 0.25 percent to 0.5 percent on Thursday to help curb high inflation.

The widely expected move reversed the emergency action the bank took in the wake of last year’s referendum on European Union membership, when it cut rates to avert a recession.

Following the rate increase, the pound fell around 1 percent against the dollar and the euro on dovish commentary from the central bank.

The UK inflation rate is running a full percentage point above the central bank's 2 percent target.

Bank of England Governor Mark Carney said inflation was unlikely to return to the target level without raising rates, because the economy was growing at levels "above its speed limit".

"The UK's decision to raise interest rates is a solution mainly to combat inflation," said Yu, CEO of the London-based advisory Shanghai-London Connect.

He added that the rate rise would have "minimal impact on the UK's trade and investment relationship with China, as the UK still needs to improve its economic growth and China links are an important part" of that growth.

"The depreciation in the pound’s value could even be beneficial for Chinese investors, as the costs of investing in the UK is reduced," he said.

The Bank of England kept its forecasts for growth and inflation broadly unchanged. Its estimates are based on market projections for the key interest rate reaching 1 percent.

"Interest rates are likely to rise only very gradually over an extended period of time," said Colin Ellis, managing director for credit strategy at Moody's Investors Service.

In recent weeks, after inflation hit 3 percent for the first time in five years in September, there had been speculation that UK interest rates would rise.

Seven of the Bank of England's nine-strong panel that sets interest rates – the Monetary Policy Committee – voted in favor of raising the rate.

The committee also repeated previous guidance that any future increases in rates would be carried out at "a gradual pace and to a limited extent".

Mike Harrison contributed to this story.

Most Viewed in 24 Hours
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
三明市| 广德县| 来凤县| 吴江市| 宜兴市| 平江县| 德州市| 泰顺县| 繁昌县| 马公市| 淮南市| 松阳县| 秭归县| 郓城县| 泰兴市| 广元市| 肇源县| 芒康县| 油尖旺区| 余庆县| 甘泉县| 屯留县| 交口县| 延寿县| 公主岭市| 麻城市| 龙泉市| 营口市| 清流县| 河曲县| 景泰县| 凤翔县| 嘉鱼县| 应用必备| 巴马| 夏邑县| SHOW| 舒城县| 名山县| 吴忠市| 赞皇县|