Tag: Bank of England

• 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.

• Saturday, June 7th 2014 - 05:23 UTC

  Bank of England leaves rates unchanged; fears of house prices rising too fast

  

  The Bank of England kept its benchmark interest rate steady on Thursday to support the UK economy's ongoing recovery, as figures showed house prices rose at the most rapid pace in almost 12 years during May.

• Saturday, June 7th 2014 - 04:37 UTC

  IMF warns UK about a possible 'housing bubble' and low productivity

  

  The International Monetary Fund (IMF) has warned the government that accelerating house prices and low productivity pose the greatest threat to the UK's economic recovery. Rising property values could leave households more vulnerable to income and interest rate shocks.

• Saturday, May 10th 2014 - 00:13 UTC

  ECB ready to take action against low inflation and strong Euro, says Dragui

  

  The European Central Bank is ready to take action next month to boost the Euro zone economy if updated inflation forecasts merit it, said ECB president Mario Dragui warning outsiders not to pressure the bank into action.