 "BoE to hold fire after August stimulus")
The Bank of England holds a monetary policy meeting on Thursday as more hard economic numbers trickle in following June's Brexit shock, while US data and a speech by policymaker Lael Brainard will give Fed-watchers food for thought. Data and surveys in the coming week will also give a steer on price and industry trends in the euro zone after the European Central Bank disappointed market expectations that it would announce an extension of its asset purchase programme.
Speaking to lawmakers on September 7, Governor Mark Carney defended the BoE's big August stimulus package but said initial damage to the economy from Britain's June 23 vote to leave the European Union looked less severe than the Bank had forecast.
While some critics of the BoE have suggested August's decision to cut interest rates to a record low 0.25 per cent, restart asset purchases and ease lending by giving cheap loans to banks was too aggressive, the Bank is expected to cut rates again later this year but leave policy unchanged this month.
Speaking to lawmakers on September 7, Governor Mark Carney defended the BoE's big August stimulus package but said initial damage to the economy from Britain's June 23 vote to leave the European Union looked less severe than the Bank had forecast.
While some critics of the BoE have suggested August's decision to cut interest rates to a record low 0.25 per cent, restart asset purchases and ease lending by giving cheap loans to banks was too aggressive, the Bank is expected to cut rates again later this year but leave policy unchanged this month.