Bank of Japan keeps QE programme on hold as it hopes for economic recovery

The central bank keeps its monetary powder dry as it gambles that the government’s other policy initiatives will kickstart the struggling economy

The Bank of Japan has held off expanding its massive monetary stimulus programme, preferring to keep its powder dry in the hope that the economy can overcome the drag from China’s slowdown without extra support.

Related: The golden age of central banks is at an end – is it time for tax and spend?

Related: Why China’s interest rate cut may be bad news for the world economy

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Global economic downturn fears prompt high street gloom

Separate surveys find October sales undershot expectations, while shoppers are more uncertain on whether it is a good time for major purchases

Worries about a global downturn have knocked consumer confidence with retail sales losing momentum over recent weeks, according to the latest reports signalling a slowdown in the UK economy.

October marked a five-month low on a barometer of consumer mood from the market research group GfK, while a separate survey of retailers by the business group CBI showed sales had undershot expectations following a strong September.

Related: GDP growth in the UK slows more than expected to 0.5%

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Britain faces potential two-notch credit slip if it votes to leave EU

Standard & Poor’s warns country would be downgraded one notch on leaving, which could double if relations with Brussels sour

Britain’s credit rating could be cut by as much as two notches if it leaves the European Union, according to Standard & Poor’s, the only big ratings agency to still give Britain the top ranking.

A vote to quit the EU would be likely to result in a one-notch downgrade, which could be increased to two notches if relations between London and Brussels deteriorated significantly, the agency’s chief sovereign rating officer told Reuters in an interview.

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US economic growth slows in third quarter as businesses cut back

Gross domestic product increases at 1.5% annual rate after expanding at 3.9% in second quarter, as businesses reduced restocking warehouses

US economic growth cooled in the third quarter despite a pick-up in consumer spending as a glut on inventory led to businesses cutting back on restocking warehouses.

Gross domestic product (GDP) – the broadest measure of economic health – increased at a 1.5% annual rate, a significant drop from the 3.9% annual growth of the second quarter, the Commerce Department said on Thursday. The main drag came from businesses stockpiling inventory, however, and economists expect growth to improve in the fourth quarter.

Related: Federal Reserve keeps interest rates unchanged but hints at December rise

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Volkswagen And The Need To Manage Technology

How important is it to have engineers and technologists at the helm of industrial companies, rather than professionals from less robust disciplines such as accountancy or marketing? After all, isn’t this precisely why Germany, the European Union’s poster child, has managed to sustain a highly successful manufacturing sector when so […]