European Central Bank disappoints on stimulus; holding its fire for Brexit slowdown?
I’m more concerned about the longer-term implications of the decision to do nothing than I am by the short-term disappointment. I think the bank is worried that it might need the very limited supply of ammunition it has left to fend off any larger shocks once negotiations on the terms for the United Kingdom’s departure from the European Union start in earnest in coming months.
Add the Bank of England to the “Summer of Stimulus” list
“It now seems plausible that uncertainty could remain elevated for some time,” Mark Carney, head of the Bank of England said today in his second televised speech since the United Kingdom voted to leave the European Union. “The economic outlook has deteriorated and some monetary policy easing will likely be needed over the summer”
Stocks, oil gain as central banks intervene–again
Central banks just can’t seem to help themselves. Once again, seeing the financial markets in distress, today central banks rode the rescue with promises of lots of cash
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