What Are the Chances BOE Could Cut Rates to Zero?
It’s the most hotly anticipated Bank of England decision for years. After the shock of Britain’s Brexit vote rattled the economy and Governor Mark Carney said easing will probably be needed this summer, investors are betting the central bank will cut interest rates for the first time since 2009. The nine-member Monetary Policy Committee announces its decision at noon in London. Carney will also meet the newly-appointed Chancellor of the Exchequer Philip Hammond Thursday. Thirty-one of 54 economists asked by Bloomberg predict a reduction in the benchmark rate, with the majority of those seeing a cut to a record-low 0.25 percent. Dartmouth College Professor of Economics David Blanchflower discusses with Bloomberg's Mark Barton on "The Pulse."
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46:53 - Stefan Schneider, chief German economist at Deutsche Bank, discusses the outcome of the German election, his outlook for the economy and how much risk he sees in the Brexit negotiation for German industry. He speaks on "Bloomberg Daybreak: Europe." (Source: Bloomberg)