India's central bank surprises with rate cut

RBI cuts repo rate in first policy review under new governor

RBI Slashes Repo Rate by 25 Basis Points, Changes Stance to 'Neutral'

BANK of England governor Mark Carney warned a no-deal Brexit could trigger a recession as expected growth for this year was cut to 1.2 per cent - the lowest for a decade.

The Governor of the Bank of England, Mark Carney speaks during a news conference to confirm the main interest rate will remain at 0.75 percent, at the Bank of England in London, Thursday Feb. 7, 2019.

The bank's Quarterly Inflation report, released on Thursday, warned that Brexit was having a clear negative impact on the United Kingdom economy, saying that since the last Inflation Report, in November: "The further intensification of Brexit uncertainties, coupled with the slowing global economy, had weighed on the near-term outlook for United Kingdom growth".

"Eurozone stocks are suffering greatly as investors are fearful the region could be in for an economic downturn", CMC Markets analyst David Madden said.

"No-one in 2016 voted for a recession and working people should not be made pick up the tab for the Tory Government's Brexit mess".

If Britain finalizes and approves a deal for a smooth Brexit transition, the British economy and household spending could get a boost, Carney said.

The BOE is the latest central bank to take a downbeat turn this year, after recent dovish statements from the U.S. Federal Reserve and European Central Bank.

The latest Reuters poll of 30 economists surveyed before Thursday's RBI meeting suggested consumer price inflation accelerated to 2.48 percent from a year ago, after slowing in December to its lowest rate since June 2017 at 2.19 percent.

As a result of the announcement, Sterling dropped by 0.6% versus the United States dollar at 1.285.

PM Modi launches DD Arun Prabha channel in Itanagar today
He alleged that an olympic is going on among the leaders of "mahamilawat" to see "who hurls more abuses at Modi". She was responding to a query of a journalist on PM Modi's visit to Arunachal Pradesh on Saturday.

It repeated its message that it could either cut or raise interest rates after a no-deal Brexit.

The European Commission on Thursday sharply cut its 2019 eurozone growth forecast on an unexpected slowdown in Germany and protests in France.

It said the United Kingdom economy is set to grow by just 1.2 percent this year instead of 1.7 percent as predicted just three months ago.

Although it did hold out the hope of a recovery later this year if an orderly deal is negotiated by the March deadline.

The EC slashed its forecast for Italy to just 0.2 per cent for the whole year, compared with a previous forecast of 1.2 per cent, while it also trimmed Germany's forecast to 1.1 per cent from 1.8 per cent.

LMS chief executive Nick Chadbourne says that his firm's data shows a trend in remortgagers taking out five-year fixes, but that "a stay in rate rises shouldn't be taken for granted... increasingly consumers are getting wise to this".

When asked if the central bank under new Governor Shaktikanta Das was likely to cut again before the national election, just over half, or 30 of 54 economists said yes.

On the flip side, growth could slump to a potential 0.8% in 2019 should uncertainty persist and financial conditions tighten.

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