Bank of England Reports Published in February 2020
Income Distribution, Wealth Distribution and Central Bank Policies – Read the report
The Bank of England and the Department of Economics at the LSE are organizing a conference bringing together researchers studying the two-way relationship between central bank policies and heterogeneity in agents’ incomes and wealth.
Blockchain Structure and Cryptocurrency Prices – Read the report
Staff working papers set out research in progress by our staff, with the aim of encouraging comments and debate.
Minutes of the UK Money Markets Code Sub-Committee – Read the report
The UK Money Markets Code Sub-Committee meets regularly to review and update the UK Money Markets Code.
Coronavirus: Global Shares Suffer Worst Week Since Financial Crisis
From: The BBC
US markets have suffered their worst week since the global financial crisis of 2008, as fears over the impact of the coronavirus continued to grip investors.
The three main US indexes ended the week down 10% or more from last Friday, despite a last-minute rally in prices.
Dollar Loses Steam as Virus Fears Grow
From: Daily Forex
The US Dollar couldn’t hold onto the positive momentum as FX traders fear that the US Federal Reserve Bank will need to lower interest rates in an effort to counterbalance the impact of the Coronavirus spread.
Japanese Government Paying Attention to Coronavirus Outbreak
From: Daily Forex
The Japanese Cabinet Office recently released its monthly economic assessment. In the report, they claim that the economy was recovering at a moderate pace.
After the report was released, the Japanese economy minister Yasutoshi Nishimura said that his biggest concern at the moment was the coronavirus epidemic.
Sterling Tumbles to 2020 Lows as Investors Dash for Safety
The pound dropped sharply on Friday, losing nearly 1% against the euro and the dollar as worries about the fast-spreading coronavirus sent investors out of currencies deemed riskier.
As investors rushed for the safe-haven Japanese yen, Swiss franc and U.S. dollar, sterling fell to its lowest against the dollar since October. Other currencies closely linked to risk sentiment also tumbled – the Australian dollar fell 2%.
Virus-driven Risk-off Move Lifts Yen Versus Dollar
The Japanese yen rose versus the U.S. dollar on Monday in a risk-off move spurred by the rise in coronavirus cases.
With coronavirus cases rising in Italy and several Middle Eastern countries dealing with their first infections, fears of a global pandemic sent markets into a tailspin, even as China eased curbs with no new cases reported in Beijing and other cities.
FX Rates in February
Feb High: 1.2041
Feb Low: 1.1692
Feb End: 1.1692
Feb High: 1.3146
Feb Low: 1.2863
Feb End: 1.2863
Feb High: 1.1071
Feb Low: 1.0789
Feb End: 1.0999