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The Bank of England today kept interest rates on hold and said the UK economy would not shrink as much as initially thought this year, but it said the recovery would take longer. But some economists have questioned the assumptions, arguing that high unemployment will damage the economy. The Bank said the UK economy was [...]
The Bank of England’s “reliance” on fast payments data that fed into upbeat predictions has come under fire after figures showed the UK economy performed much worse than expected in August. The Bank has repeatedly referred to data from its Chaps payment system, which reflects sales companies make through card purchases, during the coronavirus pandemic. [...]
Pay settlements of up to 14 per cent have been agreed with manufacturers, as business and investors gear up for fresh inflation figures, with prices rising at more than double the Bank of England’s target rate.
Women who stay away from the office risk their careers suffering as more staff return to the workplace after the pandemic, a member of the Bank of England’s monetary policy committee said.
Bank of England governor Andrew Bailey has said the UK economy is showing signs of recovery from the coronavirus crash but he remains worried about unemployment. “We are seeing the economy come back now somewhat, because obviously the restrictions are beginning to be lifted,” he told schoolchildren today at an event organised by Speakers for [...]
The Bank of England and other policymakers must be ready to take further action to help the UK’s economy because of the risk of the coronavirus shutdown causing long-term damage, governor Andrew Bailey has said. “We are still very much in the midst of this,” Bailey told broadcasters today. His comments come after new data [...]
The Bank of England today said the UK economy could suffer its worst economic crash in 300 years this year as the coronavirus lockdown batters the economy. Yet it said it is likely to bounce back relatively quickly. Despite the dire report it stopped short of launching more bond-buying or “quantitative easing” (QE) and left [...]
Bank of England governor Andrew Bailey has defended the institution’s drastic response to the coronavirus slowdown, saying it is not directly financing government spending and is against such an idea. Threadneedle Street has ramped up quantitative easing (QE), under which it creates money and buy bonds to stimulate lending, to tackle the fallout from coronavirus. [...]
The chief economist of the Bank of England has suggested Britain should make “legislative change” to shift corporate governance rules away from a sole focus on shareholders to instead consider consumers, workers and social goals. Andy Haldane also said Britain needs a “rethink” about its banking sector, suggesting that regional, development and infrastructure banks could [...]
Deputy Bank of England governor Sam Woods has warned the City that it could face a crackdown by regulators as they try to ensure the financial system remains safe a decade on since the financial crisis. Woods – who is chair of the BoE’s Prudential Regulation Authority (PRA) which oversees lenders and insurers – told [...]
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