Tag: Bank of England

Friday, August 5th 2016 - 12:07 UTC
UK admits economy contraction and announces a bold package of stimulus measures

The Bank of England has unveiled a series of stimulus measures in the wake of Brexit, including its first interest rate cut since the global financial crisis (2009), as it tries to jumpstart an economy shocked by Britain’s vote to leave the European Union.
Thursday, June 16th 2016 - 23:36 UTC
“Increasingly likely” Sterling would drop further in the event of a Leave vote, warns Bank of England

The Bank of England has warned that uncertainty about the EU referendum is the “largest immediate risk” facing global financial markets. The bank said there were “risks of adverse spillovers to the global economy” from the 23 June vote and it was “increasingly likely” that sterling would fall further - perhaps sharply - in the event of a leave vote, the Bank added.
Friday, May 13th 2016 - 11:43 UTC
Bank of England warns about Brexit dangers, and triggers major controversy

The Bank of England has given its starkest warning yet that a UK vote to leave the EU could hit the economy. Mark Carney, the Bank's governor, warned that the risks of leaving “could possibly include a technical recession”.
Wednesday, April 20th 2016 - 06:15 UTC
Bank of England says it has a duty to talk about the Brexit referendum

It is the Bank's duty to talk about the European Union referendum risks, argues the Bank of England governor Mark Carney, dismissing accusations the Bank is too political. The referendum takes place on 23 June and has become highly controversial.
Wednesday, December 2nd 2015 - 08:52 UTC
RBS and Standard Chartered, weakest in Bank of England stress test

Royal Bank of Scotland and Standard Chartered were the weakest of Britain's seven largest lenders in a Bank of England stress test. For the second year, the central bank has subjected the UK's biggest lenders to tests to measure whether they would survive a financial shock.
Saturday, September 19th 2015 - 07:15 UTC
UK economists debate on further interest rate cuts to combat low inflation

The Bank of England may have to cut rates to combat low inflation, rather than raise them as its next move, its chief economist Andy Haldane has said. UK inflation may not pick up in the second half of the year, and there are risks of fallout from emerging economies, he said in a speech.
Saturday, August 8th 2015 - 08:22 UTC
Bank of England keeps rates unchanged; little talk of rise because of China and Greece

UK interest rates have been held at 0.5% again by the Bank of England's Monetary Policy Committee (MPC). Members voted 8-1 to keep rates on hold - the first time for months the decision has not been unanimous, with Ian McCafferty voting for an increase.
Wednesday, August 5th 2015 - 07:25 UTC
UK government begins sale of rescued RBS, but a third below the price it paid

The British government has begun its sell-off of shares in part-nationalized lender Royal Bank of Scotland, raising £2.1bn, a third below the price it paid. It sold a 5.4% stake at 330p a share, a 7.6p discount on Monday's closing price.
Wednesday, June 10th 2015 - 22:22 UTC
Bank of England and Chancellor want tougher sentences for bankers' “culture of impunity”

Bank of England governor Mark Carney has called for longer prison sentences for bankers who break the law, in a speech attacking on ethics in the City. In his Mansion House speech Mr Carney said individuals acted with a “culture of impunity”. But, he warned: “The age of irresponsibility is over.”
Thursday, March 12th 2015 - 01:11 UTC
Bank of England contrary to further cut interest rates to combat low inflation

Bank of England governor Mark Carney said it would be “extremely foolish” for the Bank of England to cut interest rates to try to combat low inflation. He reiterated comments made in February that the drop in prices was temporary and largely caused by the sharp fall in oil prices.