Tag: Bank of England

• Friday, March 6th 2015 - 07:06 UTC

  UK leaves interest rates unchanged at record low 0.5% for six years

  

  UK interest rates have been kept unchanged again by the Bank of England, meaning they have now been at their record low of 0.5% for six years. Rates were first cut to 0.5% in March 2009 as the Bank sought to lift economic growth amid the credit crunch.

• Friday, February 20th 2015 - 05:05 UTC

  UK inflation 0.3% in January on cheaper petrol and food prices

  

  The rate of UK Consumer Prices Index inflation fell to 0.3% in January, its lowest level since records began. Cheaper petrol and lower food prices, helped by a supermarket price war, cut the rate from 0.5% in December, Office for National Statistics figures show.

• Monday, February 9th 2015 - 12:46 UTC

  Bank of England unanimously leaves interest rates at 0.5% for the 71st month

  

  Bank of England has held interest rates at 0.5% for the 71st month in a row and kept its stimulus programme of quantitative easing (QE) unchanged. Most forecasters now think interest rates will not rise before next year.

• Saturday, January 3rd 2015 - 07:56 UTC

  Dragui remarks makes Euro fall to its lowest against the dollar since June 2010

  

  The euro fell Friday to a 4 ½-year low against the dollar after European Central Bank President Mario Draghi indicated the bank could soon back a government bond-buying program to deal with alarmingly low inflation across the 19-country Euro-zone.

• Sunday, November 9th 2014 - 10:19 UTC

  Bank of England expected to raise rates, gradually, after May general election

  

  Bank of England interest rates have been left on hold at 0.5% for another month amid fears that the pace of recovery in the UK economy is slowing. The BoE base rate has been at its current level for more than five years, with economists not expecting an increase until next summer.

• Tuesday, October 14th 2014 - 05:35 UTC

  Bank of England governor warns 'bankers' behavior still needs to change”

  

  Bankers' behavior still needs to change following the financial crisis, Bank of England governor Mark Carney has warned. He added that top executives had “got away without sanction”.“Maybe they were not at the best tables in society after that, but they're still at the best golf courses. That has to change,” he said. Mr Carney was speaking at the International Monetary Fund's annual meeting in Washington.

• Friday, October 3rd 2014 - 06:38 UTC

  Bank of England wants new powers to prevent a housing 'boom and bust'

  

  The Bank of England has asked formally for new powers to prevent a housing boom and bust. Under the powers, the Bank would be able to limit how much people can borrow to buy a home, according to their financial circumstances.

• Saturday, August 23rd 2014 - 07:02 UTC

  Bank of England minutes show some members voted to raise interest rates

  

  Two members of the Bank of England's Monetary Policy Committee (MPC) voted to raise interest rates in August, the first time in three years that policymakers have done so. The minutes of the meeting on 6-7 August show Ian McCafferty and Martin Weale voted for a 0.25% rise to 0.75%. It means the nine-member MPC voted 7-2 to hold interest rates at their historic low of 0.5%.

• Saturday, August 9th 2014 - 06:33 UTC

  Bank of England inflation forecast, next week could give an idea on future hike

  

  The Bank of England opted this week to keep its main interest rate at a record-low level of 0.50% against a backdrop of solid British economic growth. The central bank's nine-member monetary policy committee decided also to maintain the level of cash stimulus in the economy at £375 billion, it said in a statement.

• Wednesday, July 30th 2014 - 07:45 UTC

  UK and US fine Lloyds group £218m for manipulating the Libor rate

  

  Lloyds Banking Group has been fined £218m for “serious misconduct” over some key interest rates set in London. The group manipulated the London interbank offered rate (Libor) for yen and sterling and tried to rig the rate for yen, sterling and the US dollar, said the US legal order.