Tag: Bank of England

• Sunday, November 5th 2023 - 10:23 UTC

  UK economy on flat growth track, with decreasing inflation, BoE report

  

  The UK economy is on flat growth for a couple of years, while government forecasts of greater activity vanish, and the Bank of England could still rise interest rates further. In effect the BoE has warned rates will remain high for some time or even rise higher. Rate currently stands at 5,25%, the highest in fifteen years.

• Thursday, September 21st 2023 - 20:23 UTC

  In a tight vote, Bank of England leaves interest rates unchanged, still the highest for 15 years

  

  The United Kingdom interest rates were left unchanged after the Bank of England said price rises were slowing faster than expected. Interest rates were held at 5.25%, already their highest for 15 years, and comes after figures on Wednesday revealed an unexpected slowdown in inflation in August.

• Wednesday, September 20th 2023 - 13:18 UTC

  UK will have the highest inflation this year among G7 members, OECD report

  

  Growth in the global economy is expected to remain “sub-par” next year, according to the Organization for Economic Cooperation and Development (OECD) which cut its forecast for 2024 from 2.9% to 2.7% on Tuesday.

• Thursday, September 7th 2023 - 10:08 UTC

  Bank of England says interest rates are close to their peak, but could inch further

  

  Bank of England Governor Andrew Bailey has said interest rates are close to their peak, but that they may still have further to rise. He told MPs on Wednesday “we are much nearer now to the top of the cycle” of rate rises.

• Friday, August 4th 2023 - 08:17 UTC

  Bank of England rate up to 5,25%, highest in fifteen years; no prospects of abating

  

  The Bank of England raised on Thursday its main interest rate to 5.25%, the highest in 15 years, as the country strives to control persistently high inflation. The quarter percentage point hike was the bank's 14th in a row.

• Friday, June 23rd 2023 - 07:05 UTC

  Bank of England raises the base rate to 5% given a stubborn inflation of 8,7%

  

  The Bank of England, contrary to market expectations of a 25 basis points hike, on Thursday surprised with a 50 basis point hike to interest rates, its 13th consecutive increase as policymakers grapple with persistently high inflation.

• Thursday, March 23rd 2023 - 10:20 UTC

  With prices continuing to rise, Bank of England expected to increase the basic rate to 4,25%

  

  Following a surprise rise in UK consumer prices, the Bank of England is expected to increase interest rates for an 11th consecutive. Analysts think an increase in the Bank rate from 4% to 4.25% is the most likely outcome of the Monetary Policy Committee Thursday meeting later.

• Monday, March 20th 2023 - 16:05 UTC

  Network of leading Western central banks ready to inject the necessary dollars liquidity

  

  Leading central banks of the West announced on Sunday a coordinated action to provide liquidity to the financial system through the US swap liquidity line arrangements. The statement was signed by Secretary of the Treasury Janet L. Yellen and Federal Reserve Board Chair Jerome H. Powell and becomes effective Monday 20 March.

• Tuesday, March 14th 2023 - 13:51 UTC

  Following the failure of Silicon Valley Bank, the Fed and BoE have issued statements

  

  The Federal Reserve Board on Monday announced that Vice Chair for Supervision Michael S. Barr is leading a review of the supervision and regulation of Silicon Valley Bank, in light of its failure. The review will be publicly released by May 1.

• Tuesday, February 14th 2023 - 10:16 UTC

  UK economy, Brexit and the productivity slowdown controversy

  

  Jonathan Haskel, an external member of the Bank of England monetary policy committee, said a wave of investment “stopped in its tracks” in 2016 following the Brexit vote.