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welcome to the programme. amid the turmoil in uk markets this week, the chancellor met the us banks today and was told in no uncertain terms that his budget which he has planned for november is way too far away . the government needs to communicate much sooner, said the banks, on what the solution will be to the problem the city believes they created. it has been another chaotic day on the markets. this morning, the bank of england performed a screeching u turn, putting the brakes on its plan to sell government bonds and instead launching a new scheme to buy them. think of it as a form of digital money printing. the bank is creating funds to to buy bonds which the government issues to borrow money. and this is why. since the mini budget, the cost of government borrowing long term has shot up. it was spiralling above 5%. that s a 20 year high. we have seen rises in the last two days that would normally take years. the bank of england is buying up the debt, in essence cr ....
Today? it what triggered the intervention toda ? , ., ., today? it is important to distinguish today? it is important to distinguish and - today? it is important to distinguish and you - today? it is important to distinguish and you are i today? it is important to - distinguish and you are right when you talk distinguish and you are right when you talk about it being a reversal of quantitative easing of the bond purchases we have seen other central banks purchases we have seen other central banks do purchases we have seen other central banks do as purchases we have seen other central banks do as well, but the bank of england banks do as well, but the bank of england is banks do as well, but the bank of england is very keen for you not to think england is very keen for you not to think of england is very keen for you not to think of it england is very keen for you not to think of it like that. they were explicit think of it like that. they were explicit today saying it w ....
(Bloomberg) China’s central bank cut the amount of cash banks must hold in reserve, stepping up its monetary policy action to cushion the economy from its worst Covid outbreak since early 2020. ....
We must get out of this economic rut Covid has made SA s economic morass even worse but the government response has been woeful - it s time to exploit our under-used resources 14 March 2021 - 00:00 By NTHABISENG MOLEKO The crippling effects of Covid-19 on most economies have seen governments employing countercyclical measures, adopting unprecedented levels of fiscal stimulus to boost economic activity. A McKinsey & Co report, The $10-trillion rescue: How governments can deliver impact , ranked the level of relief as a percentage of GDP: Japan 21%, Germany 33%, US12.1%, Brazil 5.5%, India 10% and France 14.6%. Offsetting the contractions emanating from exogenous shocks requires the employment of tools and policy instruments that stimulate aggregate demand, such as cash transfers to households, debt restructuring for small, medium and micro enterprises and liquidity support for companies. ....
Wall street s nervous response. once the tweets started, the markets said oh, no. exactly. i think it s that tweet storm that really has put the markets on edge, because we have seen the numbers fall with each tweet that president trump has put out, especially the one where he s threatening to respond to china s latest retaliatory tariffs, promising that he s going to have a response later on this afternoon. so you ve got that uncertainty stirring the market up, making investors very nervous, which is why they are selling. one thing i have to say about one of those tweets that the president made, the one where he said once again the fed does nothing, at this meeting in jackson hole, wyoming, the fed isn t expected to take any monetary policy action. in fact historically it hasn t. it has to wait until usually its meeting that happens in september. the next meeting is september 17th and 18th. so if the president was expecting fed chief jay powell to take action, i think that s really ....