By Reuters Staff
1 Min Read
FILE PHOTO: Bank of England Governor Andrew Bailey poses for a photograph on the first day of his new role at the Central Bank in London, Britain March 16, 2020. Tolga Akmen/Pool via REUTERS
MILAN (Reuters) - Economic growth in the United Kingdom will fall by 4% in the first quarter from the same period last year and by 19% compared to the first three months of 2019, the governor of the Bank of England said on Tuesday.
In an interview with Italian daily Il Sole 24 Ore Andrew Bailey said the bank would continue buying government bonds this year but added negative yields would negatively impact company savings and investments.
The European Central Bank is aiming to stop bond yields from rising before the pandemic-hit euro zone economy is ready to digest higher borrowing costs, the ECB's chief economist Philip Lane said in an interview published on Tuesday.
Germany's financial regulator Bafin has submitted a filing to a court in Bremen to start insolvency proceedings for Greensill Bank, a spokeswoman for the court said on Tuesday.
Investors have nudged their cash allocations higher, suggesting a slight increase in concerns that inflation and "taper tantrums" could topple a record rally in financial markets, BofA's March fund manager survey showed on Tuesday.
Abu Dhabi's sovereign fund Mubadala is considering buying NMC Health's core hospital business, three sources familiar with the matter told Reuters, emerging as another suitor of the troubled hospital group.