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By Peter Stevenson MEMBERS of Volunteer Doctors Cyprus have treated around 350 people at their free clinic in Nicosia since it opened three months ago, while two more, one in Paphos and one in Polis are due to open today. Limassol also has a free clinic, which was opened only last month, and plans have been drawn ...
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SOME 10 days ago, foreign minister Ioannis Kasoulides raised expectations by announcing the possibility of a deal with Turkey for the opening of the fenced off area of Famagusta, for the return of its inhabitants. In exchange the Cyprus government would agree to the opening of Tymbou airport to direct flights. ...
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By George Psyllides PRIVATE auditors have expressed doubt the electricity authority (EAC) could be considered a going concern and have asked its board to draft a credible plan to tackle the problem, according to the auditor-general’s 2012 report on the semi-state company. Among other issues, ...
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Cyprus Internet Directory [ Bank of England halts QE, holds rates at 0.5 pct ]

Bank of England halts QE, holds rates at 0.5 pct

Bank of England halts QE, holds rates at 0.5 pct
February 04, 2010 - Reuters

The Bank of England announced on Thursday no increase to its unprecedented 200 billion pound asset-buying programme, halting the scheme after 11 months in a move that could signal a return to more normal policy.

It also left UK interest rates at a record low of 0.5 percent, as expected.

"The Committee will continue to monitor the appropriate scale of the asset purchase programme and further purchases would be made should the outlook warrant them," the central bank said in a statement.

The central bank has been buying assets, mostly gilts, since last March with newly-created money in an effort to boost the economy -- quantitative easing or QE in the jargon -- but the 200 billion pounds ($317.5 billion) it had so far sanctioned was exhausted last week.

Almost all analysts polled by Reuters had predicted the BoE would choose to pause the scheme this month, given the economy finally came out of its worst recession since World War Two at the end of last year.

But few expect any monetary tightening until later this year given the fragile state of the recovery.


(Source: Financial Mirror, http://www.financialmirror.com/News/Cyprus_and_World_News/19254)



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