Tag: Bank of England

• Thursday, March 12th 2020 - 07:35 UTC

  Coronavirus: Bank of England cuts interest rate 50 basis points to 0.25%

  

  The Bank of England (BOE), the UK's central bank, cut interest rates by 0.5 percentage points on Wednesday morning as part of an emergency response to the coronavirus, or COVID-19.

• Monday, December 23rd 2019 - 08:40 UTC

  Bank of England leaves interest rates on hold, but ready to cut over global and Brexit uncertainties

  

  The Bank of England has kept interest rates on hold at 0.75% but indicated it may cut the cost of borrowing if global economic growth fails to recover or Brexit uncertainties persist. It said the UK economy was expected to pick up from its current weakness.

• Tuesday, July 16th 2019 - 21:42 UTC

  Enigma code breaking genius chosen to be on new £50 English banknotes

  

  Alan Turing was preferred over Stephen Hawking and Margaret Thatcher to feature on the highest-denomination bills in the country. The Bank of England has selected the face of the computer science genius whose most famous breakthrough proved decisive in the outcome of World War II against Germany to appear in the new £50 note (around 62 US dollars) due to enter circulation by the end of 2021.

• Tuesday, May 21st 2019 - 08:45 UTC

  Bank of England: UK companies likely to cancel projects because of Brexit uncertainty

  

  British companies are likely to cancel projects that they have put on hold because of Brexit uncertainty if the country leaves the European Union without a deal to smooth the shock, Bank of England Deputy Governor Ben Broadbent said on Monday.

• Friday, May 3rd 2019 - 09:03 UTC

  Bank of England interest rate evolution depend on resolution of the Brexit impasse

  

  United Kingdom interest rate increases could be “more frequent” than expected if the economy performs as the Bank of England is expecting, governor Mark Carney says. The markets are forecasting just one interest rate increase by 2021.

• Saturday, April 20th 2019 - 09:43 UTC

  England and France top bankers warn of financial risks associated to climate change

  

  The heads of two major central banks have written a stark warning about the financial risks of climate change. Bank of England governor Mark Carney and France's François Villeroy de Galhau set out the dangers to the global economy in an open letter.

• Saturday, April 13th 2019 - 07:53 UTC

  Hammond admits the idea of a second Brexit referendum is very likely

  

  The idea of a second Brexit referendum is very likely to be put before Britain's parliament again although the government remains opposed to any new plebiscite, the British finance minister said on Friday.

• Friday, April 12th 2019 - 10:04 UTC

  Bank of England sees a “window of time” to forge a Brexit consensus

  

  British politicians could now take some time to find a way forward on Brexit, Bank of England Governor Mark Carney said on Thursday, after Prime Minister Theresa May agreed on a delay of up to six months before leaving the European Union.

• Wednesday, February 13th 2019 - 07:59 UTC

  Bank of England urges Parliament to secure a good Brexit withdrawal deal and a smooth transition.

  

  Bank of England governor Mark Carney has urged MPs to solve the Brexit impasse in a speech warning of growing threats to the global economy. He said a no-deal Brexit would create an “economic shock” at a time when China's economy is slowing and trade tensions are rising.

• Friday, February 8th 2019 - 09:05 UTC

  “Brexit fog”: Bank of England expects slowest growth since 2009

  

  The Bank of England expects growth this year to be the slowest since 2009 when the economy was in recession. It is forecasting growth of 1.2% this year, down from its previous November forecast of 1.7%. The Bank said it had seen further evidence that businesses were being cautious in the run-up to Brexit, including evidence from its own survey of firms. As expected the Bank kept interest rates on hold at 0.75%.