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Montevideo, June 20th 2018 - 13:18 UTC

Tag: UK interest rates

  • Saturday, May 26th 2018 - 08:39 UTC

    Brexit talks in Brussels lead to strong exchanges with Chancellor Hammond

     “There are obviously a wide range of views on both sides but everybody that I have engaged with has been very constructive, very keen”, Hammond said

    Chancellor Philip Hammond has criticized claims from European Union officials that Britain has a “fantasy” approach to Brexit negotiations. Mr Hammond insisted that talks with EU officials were “constructive” after reports from the continent that Britain was being “unrealistic” and little progress made in discussions in recent days.

  • Friday, May 11th 2018 - 06:12 UTC

    Bank of England leaves interest rates unchanged, slashes 2018 growth prospects

    Governor Mark Carney said the Bank believed the “underlying pace of growth remains more resilient than the headline data suggest”. (Pic Bloomberg)

    The Bank of England has backed off from raising interest rates as it slashed 2018 growth forecasts, but said the economy would bounce back from a weather-hit “soft patch”. Policymakers kept the prospect of rate hikes firmly on the cards, although it sparked confusion over when the next increase may come.

  • Monday, April 23rd 2018 - 08:41 UTC

    Bank of England likely to raise interest rates twice in 2018 and 2019

    UK interest rates currently stand at 0.5%. Many economists believe that the Bank's Monetary Policy Committee, will vote for a 0.25% rate rise at its May meeting.

    The Bank of England is likely to raise interest rates twice this year and twice in 2019, despite a sluggish economy, says a forecasting body. Bank governor Mark Carney has said a rate rise is “likely” this year, but any increases will be gradual.

  • Tuesday, April 17th 2018 - 07:54 UTC

    Pound in strong sustained run against the US dollar

    The pound started the week with a gain of almost a cent to US$ 1.4323, while against the Euro it was 0.2% higher at €1.1569.

    The pound has continued its recent strong run against the dollar pushing firmly above US$ 1.43. It is the seventh session in a row that the pound has made gains against the US currency. The strong run means that, among the G10 group of rich nations, the UK has the best-performing currency this year.

  • Friday, November 3rd 2017 - 07:37 UTC

    Bank of England's first interest rate increase in a decade; Brexit impact hovers over future decisions

    With the economy growing at rates above its speed limit, inflation is unlikely to return to 2% target without some increase in rates, said Governor Mark Carney.

    The Bank of England has raised interest rates for the first time in a decade to contain an increase in inflation stoked by the Brexit vote, in what is otherwise a moment of high uncertainty for the economy. In a statement Thursday, the bank said it had lifted its benchmark rate, which affects the cost of loans and savings rates in the wider economy, to 0.50% from the record low of 0.25%.

  • Tuesday, October 31st 2017 - 07:58 UTC

    Uncertainty and inflation expected to make Bank of England reverse monetary policy

    The UK is growing at half the rate recorded in the US for the year to September, at 1.5%, while growth is expected to trail Italy, France and Germany next year.

    Bank of England is expected to reverse emergency action taken following the Brexit referendum, when it cut rates from 0.5% to 0.25% to avert a recession. While a slump has not materialized, the British economy appears in worse health than most other major countries, with potential to be blown further off course by faltering talks to leave the EU.

  • Friday, March 17th 2017 - 07:15 UTC

    Bank of England cautiously leaves interest rates at the record low of 0.25%

    Carney has emphasized his rate-setting board's willingness to ignore a certain level of above-target inflation prompted by the sharp plunge in sterling of around 18%

    The Bank of England (BOE) held interest rates at the record low level of 0.25% and maintained asset purchases at £435 billion on Thursday. The decision, which was made by an 8-1 majority, had been almost unanimously anticipated by central bank watchers with many expecting the BOE to choose caution until more clarity emerges on the Brexit process and the U.K. economy's capacity to manage outside of the European Union.

  • Friday, December 16th 2016 - 10:44 UTC

    Bank of England leaves rates unchanged: global outlook has become more fragile

    The Bank said it now predicted a slight improvement in the inflation forecast after seeing the value of the pound and the oil price rise since its last meeting.

    The Bank of England voted unanimously on Thursday to keep the UK's main interest rate at a record low of 0.25%, and anticipated that the next rate move could be in either direction. The last change was a rate cut in August, in the wake of the UK's vote to leave the EU.

  • Saturday, November 5th 2016 - 09:49 UTC

    Bank of England raises inflation and growth forecasts, but Brexit uncertainty remains

    Following the release of the quarterly inflation report, governor Mark Carney said the revised forecasts were “neither solely due nor totally unrelated” to the Bank's decisions back August.

    The Bank of England has raised its near-term growth and inflation forecasts on Thursday following the slide in sterling seen since the U.K.'s decision to leave the European Union. The bank decided Thursday to keep interest rates at the record low level of 0.25% and maintan its quantitative easing (QE) purchase targets at up to £10 billion for corporate bonds and £435 billion for U.K. government bonds.

  • Friday, September 16th 2016 - 07:06 UTC

    Bank of England rates remain at record low, but could be further cut

    BoE also voted 9-0 to keep the bond-buying program target at 435 billion pounds and to continue with its new plan to buy up to 10 billion pounds of corporate bonds.

    The Bank of England said on Thursday it was still likely to cut interest rates to just above zero later this year, even though the initial Brexit hit to Britain's economy would be less severe than it expected only last month. The Bank said its nine rate-setters were unanimous in their decision to keep Bank Rate at its new record low of 0.25%, the lowest in the BoE's 322-year history.

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