UK inflation could go “above five per cent” this winter says new BoE chief economist October 21, 2021 UK inflation could rise above five per cent next year, said the Bank of England’s new chief economist. Speaking to The Financial Times, Huw Pill said: “I would not be shocked — let’s put it that way — if we see an inflation print close to or above five per cent [in the months ahead]. [...]
Markets brace for Christmas BoE rate hike October 12, 2021 THE UK could be stung by an earlier than expected rate hike as the Bank of England moves to hose down runaway inflation. Investors kicked off the week yesterday by repositioning their bets toward a first rate increase since the onset of the Covid-19 crisis at the Bank’s last rate setting meeting of the year [...]
Bank of England rate-setter: Brace yourself for interest rate rises very soon October 10, 2021 One of the key rate-setters on the Bank of England’s Monetary Policy Committee has today said UK households should be primed for an interest rate rise “significantly sooner” than first thought. Michael Saunders, the former Citigroup economist turned Threadneedle St wonk, noted that financial markets had already priced in a pending rate rise as economies [...]
This A.M.: Tide is turning at the Bank of England while markets await Powell remarks September 28, 2021 Having started the day in positive fashion yesterday, European markets saw the majority of the early gains slowly disappear, and though most did finish higher, it was a somewhat half-hearted affair. The result of the German election went entirely as expected, with little prospect of a new government this side of Christmas. US markets were [...]
Andrew Bailey: Interest rate rise needed to slow inflation but economy not strong enough September 28, 2021 Andrew Bailey said in a speech last night to the Society of Professional Economists that rate of recovery from the pandemic had slowed over recent months, adding: “And that slowing is continuing.” The Bank of England governor jokingly asked “when is the plague of locusts due” as he warned the economy faces “hard yards” ahead. [...]
Markets today: Fed tilts towards a taper, Bank of England up next September 23, 2021 European markets underwent another strong session yesterday, as concerns about Evergrande diminished further, while markets in the US shook off their early week malaise by finishing close to the highs of the day in the wake of last night’s Fed meeting, which despite what looked like a fairly neutral statement, saw the central bank outline [...]
Bank of England warns banks over poor regulatory reporting September 11, 2021 Some banks and building societies are not providing enough reliable information for regulators to properly identify threats to the financial system, the Bank of England (BoE) wrote in a letter to CEOs published yesterday. Financial firms are required to report data on areas including assets, capital and operations to the BoE who use the information [...]
Bailey warns worker shortages could produce sticky inflation September 8, 2021 The governor of the Bank of England, Andrew Bailey, has signalled he is pessimistic about the current worker shortages crippling the UK economy ending soon. Giving evidence to the Treasury Committee, Bailey said the main problem in the economy is now “getting jobs filled.” Responding to questions on whether inflation will persist for longer than [...]
Bank of England denies it’s U-turned on return to work policy September 7, 2021 The Bank England today said it has not abandoned plans to bring staff back to the office. Threadneedle Street came under fire after reports surfaced that staff had been told they could continue working from home for the time being. However, the Bank of England said today it had not U-turned on its return to [...]
Bank of England hawk Saunders suggests interest rates will rise in 2022 September 7, 2021 Your mortgage rate looks more likely to rise next year, according to one Bank of England rate-setter. The Bank of England may need to increase interest rates next year if the UK’s GDP recovery momentum holds and inflation becomes stickier, policymaker Michael Saunders said today. Saunders, who in August voted for an early stop to the BoE’s [...]