Tag: Bank of England

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.
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.