Tag: Bank of England

• Friday, March 28th 2014 - 06:45 UTC

  London becomes hub for Chinese currency dealings and clearing

  

  The Bank of England has agreed a deal with the People's Bank of China to make London a hub for Chinese currency dealing. The memorandum of understanding, to be signed next Monday, sets out settlement and clearing arrangements for the Renminbi, or Yuan, in London.

• Tuesday, March 18th 2014 - 22:15 UTC

  Carney begins implementation of 'root-and-branch' review in Bank of England

  

  Two new deputy governors have been named at the Bank of England, as part of a radical shake-up by governor Mark Carney. Ben Broadbent will become deputy governor responsible for monetary policy, and Nemat Shafik will take charge of markets and banking.

• Thursday, March 6th 2014 - 21:13 UTC

  UK interest rate held at 0.5%, making it a record low of five years

  

  UK interest rates have been held at 0.5% for another month, the Bank of England announced on Thursday. The decision by the Bank's Monetary Policy Committee comes five years after the record low level was first introduced.

• Friday, February 21st 2014 - 07:30 UTC

  Chancellor Osborne warns UK recovery 'is not yet secure' despite recent growth surge

  

  UK Chancellor George Osborne said next month’s Budget will continue to confront Britain’s problems as he cautioned the recovery was “not yet secure” despite a recent surge in growth.

• Saturday, December 14th 2013 - 06:26 UTC

  Bank of England concerned about potential for a UK housing market bubble

  

  Bank of England governor Mark Carney has said he is concerned about the “potential” for a UK housing market bubble, but will tighten lending requirements if necessary. Meanwhile, a survey suggested house prices will continue “surging ahead”.

• Friday, December 6th 2013 - 23:31 UTC

  Despite strong signs of recovery, Bank of England leaves interest rates unchanged

  

  The Bank of England held interest rates at a record low once more this week in spite of mounting optimism over the UK recovery. A flurry of encouraging signs on the UK economy has fuelled expectations for growth to pick up to around 1% this quarter.

• Wednesday, November 20th 2013 - 20:43 UTC

  Bank of England enthusiastic about UK recovery, according to November minutes

  

  The UK is in a sustained recovery and does not face major inflation risks, Bank of England policymakers have said. Minutes from the Monetary Policy Committee's November meeting showed the nine members all voted to leave interest rates at 0.5%.

• Saturday, November 9th 2013 - 18:27 UTC

  Bank of England leaves rates unchanged; focus on next week's inflation report

  

  Bank of England has left interest rates unchanged at 0.5% and made no change to its program of quantitative easing, as had been widely expected. The decision came as no surprise as the Bank has said it will not consider a rate rise until the unemployment rate falls below 7%.

• Friday, September 6th 2013 - 00:43 UTC

  Bank of England leaves key rate and bond-buying program unchanged

  

  Bank of England officials left their bond-buying program unchanged on Thursday as they assessed the impact of Governor Mark Carney’s forward guidance policy to keep interest rates low amid a strengthening economic recovery.

• Thursday, August 8th 2013 - 03:15 UTC

  Bank of England ‘forward guidance’: no rate rise until unemployment falls to 7%

  

  The Bank of England's new Governor Mark Carney said the central bank will not consider raising its record low interest rate and stimuli until unemployment falls below 7%.