Tag: Bank of England

• Tuesday, November 1st 2016 - 02:05 UTC

  Bank of England governor will step down in June 2019, after Brexit is over

  

  Bank of England governor Mark Carney says he will step down in June 2019. It means he will serve one additional year beyond the five-year term he committed to when he took the post, but will still be two years short of the usual eight years governors serve.

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

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

  

  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.

• Monday, September 5th 2016 - 11:50 UTC

  Senior advisors propose a post-Brexit Britain “continental partnership” with EU

  

  A senior German lawmaker, an adviser to the French prime minister and a former deputy head of the Bank of England have proposed that a post-Brexit Britain form a new “continental partnership” with the EU.

• 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.