Two MPC members cautious about rate rise

GETTYThe pound was up ahead of an appearance by Governor Mark Carney

GETTYThe pound was up ahead of an appearance by Governor Mark Carney

Dave Ramsden, the new deputy governor of the Bank of England said that he was not in support of voting for an interest rate hike, calling into question when the BoE will implement its first interest rate hike in over ten years.

Also making her first policy comments to MPs was Silvana Tenreyro, a professor at the London School of Economics and external member of the MPC.

The Consumer Prices Index 12-month inflation rate in the United Kingdom was 2.8 percent in September, the highest rate since March 2012 and 0.1 percentage point more than in August this year, the UK Office for National Statistics (ONS) said Tuesday.

Tenreyro, meanwhile, aired her opinion that she wasn't yet ready to vote for a rate hike.

USA named condition for return to UNESCO
In December, after the Security Council passed Resolution 2334, Netanyahu ordered $6 million cut from Israel's payment to the UN. The agency has become part and parcel of the Palestinian campaign to erase Jewish connections to the historic land of Israel.

Economic theory suggests an increase in interest rates pushes inflation down because it increases the value of the income derived on sterling assets to overseas buyers, increasing demand for those assets, pushing the value of the currency upwards.

'There has been much talk of a rate hike later this year by the Bank of England, but with so many areas of weakness in the economy, and high levels of indebtedness, a rate rise could be a step too far for the Bank of England, at least until there is more clarity on Brexit, ' he said.

July and August data showed consumer prices rose by 2.6% and 2.9% respectively-the highest since 2012.

The Bank governor is required to write to the Chancellor, Philip Hammond, if inflation moves more than one per cent above the 2 per cent target level. We expect inflation to approach summit in October.

Liverpool boss Jurgen Klopp: Alex Oxlade-Chamberlain is ready to shine
Speaking at his pre-match press conference, he warned of the dangers of underestimating a team such as Maribor . Liverpool have jetted out to Slovenia ahead of their trip to face Maribor in the Champions League .

The BOE's main remit is to target inflation and keep it around the 2% target rate. Inflationary pressures have been mounting since the European Union referendum result in 2016 collapsed the value of the British pound, resulting in more expensive imports.

United Kingdom inflation increased in September to the highest since early 2012, data from the Office for National Statistics showed Tuesday.

"Overall, today's data are consistent with our view that the Monetary Policy Committee will raise interest rates in November, but it won't be panicked into doing so by concerns about inflation".

Sensex hits new peak of 32687.32; Nifty at 10242.45 pts
Shares of Bharti Airtel and Bharti Infratel hit the 52-week highs, rising 1.7% and 1.5% respectively. Almost 130 stocks rose to a fresh 52-week high on the BSE , in the opening trade of the Diwali week.

Latest News