United States: Yellen: Fed’s ‘Extraordinary’ Policy To Be Around For The Long Haul
In a public speech given yesterday Janet Yellen emphasized the Fed’s “extraordinary commitment” to continue propping up the economy with low interest rates and its bond buying program. Yellen explained that these policies are necessary given the sluggishness of economic recovery and still tough conditions in the labor market.
United Kingdom: Mortgage Lending Figures Slide
As reported by The Guardian, Britain’s housing market took a breather in February, as bad weather forced some buyers to stay indoors. Mortgage lending figures fell by approximately 10% in February. House prices are up more than 10% by some measures and Bank governor Mark Carney has warned he may be forced to tighten regulations to stop the market boiling over.
Eurozone: Lowflation In Europe?
This article from Bloomberg argues that lowflation actually is a more likely threat to the Eurozone than deflation and points out the negative consequences that are likely to be brought about by it.
India: RBI Leaves Rates On Hold; Election, Monsoon In Focus
At today’s monetary policy meeting, the Reserve Bank of India left the main policy rate unchanged. With elections looming and an uncertain economic growth outlook, the Central Bank indicated that it will keep rates steady in the near term if inflation eases towards the bank’s targeted level.
Greece: Eurozone Approves Next Greece Bailout Payment
The BBC reports that the troika of international lenders approved the next EUR 8.3bn euro instalment of Greece’s bailout.