Tag: Mervyn King
Mervyn KingBank of England governor admits more should have done to prevent the crisis
After coming under fire for years for refusing to accept responsibility for the crisis, Bank of England governor Mervyn King said in his BBC Today Program Lecture that the BoE should have done more -- but added that the bank's hands had been somewhat tied.
Fears UK economy might have entered a mild recession at the end of 2011
Britain's economy may have entered a mild recession in the last three months of 2011, hampering the government's core policy aim of spurring growth and raising the chances that the Bank of England will inject more cash soon.
Bank of England agrees to inject £ 75 billion to shield the British economy
The Bank of England will inject 75 billion pounds to shield Britain's economy from the Euro zone debt crisis and keep a faltering recovery going, opting for an early, dramatic move to maximise the impact.
In spite of inflation, Bank of England leaves interest rates at record low 0.5%
UK interest rates have been held again at their record low of 0.5% by the Bank of England's Monetary Policy Committee. There has now been no change to the Bank rate for two years, despite the fact that inflation is currently twice the Bank's target rate.
UK banks’ exposure to Irish lenders above £ 139 billion
Ireland's banking problems are likely to have a direct effect on the United Kingdom's battered institutions. According to the Bank of International Settlements, UK banks have a total exposure to Irish lenders of 222 billion US dollars (£139bn).
Bank of England warns about high inflation; rate won’t drop to 2% until mid 2012
The Governor of the Bank of England warned of the dangers of ‘destructive’ high inflation after admitting his surprise that the rise in the UK cost of living continues to overshoot targets, according to a report in the Daily Mail.
UK faces “choppy recovery” in the next two years warns Bank of England
The UK economy faces a “choppy recovery” over the next two years, the governor of the Bank of England, Mervyn King, has warned. His comments came as the Bank lowered its economic growth forecast and said inflation would stay higher for longer than previously forecast.
UK consumer inflation reaches 17-month high in April
United Kingdom consumer price inflation unexpectedly jumped to a 17-month high in April, 3.7%, driven by big rises in tax on alcohol and tobacco as well as higher prices for women's clothing and food, data showed.
