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  • Leh highway reopens, Kashmir, Mughal road through
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  • Trump and France's Macron seek new measures on Iran as deadline looms
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  • Three Chinese tourists killed in traffic accident in Egypt -statement
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Bank of England's Saunders edges towards rate rise

LONDON, Apr 21 (Reuters) Bank of England policymaker Michael Saunders said on Friday that he expected growth and inflation this year to be higher than the central bank forecast two months ago, and saw scope for rates to rise modestly while still boosting the economy.
Saunders, in a speech to small businesses in London, said he did not want to commit to how he would vote at next month's Monetary Policy Committee meeting, as there was still plenty of data to come.
But he said that despite uncertainty about the exact terms on which Britain would leave the European Union in 2019, policymakers were not obliged to keep rates on hold until everything was clear.
"I judge that the current policy stance is clearly accommodative," he told members of the Federation of Small Businesses.
"While not prejudging what I or the MPC might decide on monetary policy – a modest rise in rates would still imply that considerable stimulus remains in place, helping to support output and jobs," he added.
The minutes of the BoE's last meeting in March showed that in addition to one policymaker - Kristin Forbes - backing an immediate rate rise, other unnamed MPC members were also considering doing so.
Saunders said he "would not be surprised" if consumer price inflation reached 3 percent later this year or in early 2018, and said economic growth could maintain a year-on-year rate of 2 percent through this year and next.
The BoE's February forecasts showed growth slowing to 1.6 percent in 2018 from 2.0 percent this year, and for inflation to peak at less than 3 percent.
"I want to stress that this prospective near-term inflation pickup does not imply that Brexit Britain will face persistently high inflation. Nor does it signal that the MPC has gone soft on our low inflation remit," Saunders said.
"Over time, the appropriate monetary policy can and will ensure that inflation returns to the 2 percent target," he added.
REUTERS AKC 1739
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Abdul Hamid takes oath as Bangladesh President for second term

24 Apr 2018 | 11:38 PM

Dhaka, Apr 24 ( UNI) President Abdul Hamid on Tuesday took oath as the head of state for the second consecutive term at a ceremony at Bangabhaban this evening.

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Richard Verma downplays H-1B issue

Richard Verma downplays H-1B issue

24 Apr 2018 | 11:29 PM

New York, Apr 24 (UNI) Former US ambassador to India Rahul Richard Verma has said that proposed changes by the Trump administration in the H-1B visa regime are a result of the transformation in the American political landscape.

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Sushma begins her Mongolia visit

Sushma begins her Mongolia visit

24 Apr 2018 | 6:54 PM

Ulaanbaatar, Apr 24 (UNI) External Affairs Minister Sushma Swaraj on Monday arrived in Mongolia on a two-day visit.

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World has realised of no “good terrorists”: India at SCO

World has realised of no “good terrorists”: India at SCO

24 Apr 2018 | 4:37 PM

Beijing, Apr 24 (UNI) Batting for adoption of uncompromising approach towards the persisting threat of terrorism in Afghanistan, India on Tuesday said that the World has now realised that there were no good terrorists.

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Sheikh Hasina gets global women’s leadership award

Sheikh Hasina gets global women’s leadership award

24 Apr 2018 | 4:06 PM

By Mir Afroz Zaman
Dhaka, Apr 24 ( UNI) Prime Minister Sheikh Hasina will receive the prestigious Global Women’s Leadership Award in Sydney during her coming visit to Australia.

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