Ford Motor recalls 830,000 vehicles to replace faulty side-door latch – MarketWatch – @AceFinanceNews

#AceFinanceNews – Aug.04: Ford Motor recalls 830,000 vehicles to replace faulty side-door latch – MarketWatch

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BRITAIN: BOE Cuts interest rate to 0.25% in effort to stimulate the economy they say but the real reason is to stimulate people to spend and increase their debts by providing a package of money to banks to get them to lend – @AceFinanceNews

#AceFinanceNews – Aug.04: UK interest rates cut to 0.25% UK a record low and the first cut since 2009.

The Bank of England announced a range of measures to stimulate the UK economy including buying £60bn of UK government bonds and £10bn of corporate bonds.

The Bank also announced the biggest cut to its growth forecasts since it started making them in 1992.

It has reduced its growth prediction for 2017 from the 2.3% it was expecting in May to 0.8%.

As part of the package of measures designed to boost growth following the UK’s vote to leave the EU in June, the Bank is also introducing a new Term Funding Scheme, which will lend directly to banks at rates close to the new 0.25% base rate, to encourage them to keep lending.

The exact rates they are offered will depend on whether the total amount they are lending has fallen. The scheme is designed to make sure that lower interest rates are passed on to businesses and households.

The money will be lent to banks for four years and the Bank has said the terms of the scheme will not become less generous for at least 18 months. It predicts that the amount of money lent through the scheme could reach about £100bn.

Separately, the corporate bond-buying scheme will purchase up to £10bn of bonds issued by companies outside the financial sector.

Only companies considered to be contributing to the UK economy will be eligible. More details of the scheme will be released in September.

The extensive package of measures comes despite the central bank predicting that inflation would rise above its 2% target as a result of the falling value of the pound.

Editors Notes:

I would remind you that this blog is produced free for the public good and you are welcome to republish or re-use this article or any other material freely anywhere without requesting further permission.

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To keep online information secure, experts recommend keeping your social media accounts private, changing your passwords often, and never answering unsolicited emails or phone calls asking for your personal information. Need help and guidance visit https://acepchelp.wordpress.com and leave a comment or send a private message on Telegram @Aceone31

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