Bank of England sticks to current lending rate

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Source: Marketwatch
© Scanpix/AP
On Thursday the central bank's Monetary Policy Committee decided to leave its lending interest rate untouched at two-year low at 0.5%. BOE officials also left unchanged the plan of bank's asset purchases worth $437.3 bn. Bank of England expects the extra purchases take place in three months in order to complete its quantitative-easing program. 
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Thu, 10 Nov 2011 14:10:28 GMT

ECB warns it can’t save Europe alone

ECB officials alerts the bank is unable halt debt crisis by purchasing more bonds to decrease Italy's bond yields. Klaas Knot, executive of Dutch central bank said that Eurozone should not expect additional extensive bond buying and national governments should take responsibilities of their debts. Two ECB officials who wanted to stay anonymous, admitted, the bank won't intervene further.

Thu, 10 Nov 2011 14:10:00 GMT

Asian stocks plummet on Italian yields

Asia stock markets descended on Thursday as Italian borrowing rates skyrocketed, rising concerns about the euro area debt crisis. Japan's Nikkei Stock Average lost 2.8%, South Korea's Kospi plunged 3.9% and Hong Kong's Hang Seng Index dropped 4.5%. China's Shanghai Composite gave up 1.1% and Australia's S&P/ASX 200 index fell 2.8%.

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