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Inflation
July 5, 2012

Will Central Banks create monetary stimulus?

Inflation

''Central banks in Europe and Asia attempted to stimulate the sluggish global economy on Thursday by loosening monetary policy and cutting interest rates.

The People's Bank of China surprised investors by lowering its main one-year lending rate by 0.31 percentage points to 6 per cent, showing that the economic slowdown extends beyond Europe.

As expected, the European Central Bank cut its main interest rate by a quarter point to 0.75 per cent, the lowest on record, and the Bank of England restarted money-printing and pumped an extra 50bn Pounds into the UK economy, taking the total to 375bn Pounds.

The central banks' moves come as global business surveys show much weaker growth than expected this year.  The global composite purchasing managers' index of activity in services and manufacturing, compiled by JPMorgan, dropped to 50.3 in July, its lowest since 2009.''

*This information is solely an excerpt of a third-party publication and is incomplete. Please subscribe to the referenced publication for the full article. This is not an offer to buy or sell precious metals. Investors should obtain advice based on their own individual circumstances and understand the risk before making any investment decision.

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