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Tag: rate

UK growth rate downgrade blamed on 'Beast'

UK growth rate downgrade blamed on 'Beast'

Business
The annual rate of growth in the UK economy has been downgraded because of a bigger-than-expected hit from last winter's snow. The Office for National Statistics (ONS) said that while gross domestic product (GDP) growth for the second quarter had been left unchanged at 0.4% following its latest revision, it had cut its estimate for output during the previous three months.It now calculated that disruption, particularly to the construction sector, from the so-called 'Beast from the East' was worse than originally anticipated. Image: Housebuilding suffered during the cold wintry weather of February and March It revised growth between January to March to a figure of just 0.1% from 0.2%.It meant, the ONS said, that the annu...
Hubble, Gaia produce most precise measure of universe's expansion rate

Hubble, Gaia produce most precise measure of universe's expansion rate

Science
July 12 (UPI) -- By combining the observations of the two most powerful space telescopes in orbit, scientists have achieved the most precise measurement of the Hubble constant, the universe's expansion rate. The new measurement confirms the tension between explosion rate in the early and late universe, researchers report. Astronomers can measure the expansion of the universe by measuring a galaxy's redshift, a change in the wavelength of the light due to a change in the velocity of the object. By measuring the redshift of galaxies using the Hubble Telescope, scientists have established the Hubble constant. But investigations of the cosmic microwave background, the oldest radiation in the universe, can also be used to predict the universe's expansion rate. Maps of the microwave signature ...
RBI to link bank's base rate to MCLR from Apr 1 for loans, borrowers on base rate may benefit

RBI to link bank's base rate to MCLR from Apr 1 for loans, borrowers on base rate may benefit

Finance
The Reserve Bank will link the base rate for loans given by banks to the MCLR starting April 1, 2018 i.e. from the new financial year. The Marginal Cost of Funds based Lending Rates (MCLR) system was introduced on April 1, 2016 to tackle the problems of the Base Rate regime. With the introduction of the MCLR system, it was expected that the existing Base Rate linked loans and other credit exposures would also migrate to MCLR system. However, this has not happened. "It is observed, however, that a large proportion of bank loans continue to be linked to the Base Rate despite the Reserve Bank highlighting this concern in earlier monetary policy statements. Since MCLR is more sensitive to policy rate signals, it has been decided to harmonize the methodology of determining benchmark rates...
Market tumble lessens market fears of Fed rate hike

Market tumble lessens market fears of Fed rate hike

Finance
Monday's stock market plunge dimmed traders' outlook that the Federal Reserve will raise interest rates as much as it has indicated.Just a few weeks after the market finally had come around to the Fed's way of thinking that three quarter-point rate hikes would be appropriate this year, the day's trading changed sentiment. Traders on the fed funds futures market now are indicating a less than 50 percent chance that the central bank will move three times this year.That move came on a day when the Dow industrials saw their biggest intraday drop ever — a harrowing 1,500 point plunge that came amid worries over rising interest rates."If this market's going to behave like that that's going to put into question three to four hikes this year," said Ilya Feygin, senior strategist at WallachBeth Cap
UK inflation rate rises to 3.1%

UK inflation rate rises to 3.1%

Business
Inflation rose to 3.1% in November, the highest in nearly six years, as the squeeze on households continued.The Office for National Statistics (ONS) said that airfares and computer games contributed to the increase.The most recent data shows that average weekly wages are growing at just 2.2%. Mark Carney, the governor of the Bank of England, will now have to write a letter to Chancellor Philip Hammond explaining how the Bank intends to bring inflation back to its 2% target.Mr Carney has to write a letter to the chancellor if the Consumer Prices Index (CPI) inflation rate is above 3% or below 1%.Close to peak?In November, the Bank of England raised its key interest rate for the first time in more than a decade from 0.25% to 0.5%.However, it is not expected to announce a further increase whe...