Bank of England deputy governor expects return to the office to be “bigger than we anticipate” July 5, 2021 The deputy governor and chief operating officer of the Bank of England told a conference today that she expects the return to the office “might be a bit bigger than we anticipate”. Joanna Place gave the remarks at an event hosted by the Investment Association in which she launched a pilot that will see all [...]
Bailey attempts to quash inflation fears July 1, 2021 Andrew Bailey has reiterated that the Bank of England is not concerned about the recent surge in inflation, attempting to quash mounting concerns that price rises may soon spiral out of control. Speaking at his annual Mansion House speech, the Governor of the Bank of England moved to temper fears that prices in the UK [...]
Haldane: Inflation will reach four per cent this year June 30, 2021 The Bank of England’s outgoing chief economist has warned that UK inflation could surge to four per cent this year. Andy Haldane said in a speech today that he expects “UK inflation to be nearer four per cent than three per cent. This increases the chances of a high inflation narrative becoming the dominant one, a [...]
Consumer credit borrowing exceeds repayments for first time since August June 29, 2021 Households borrowed more in consumer credit than they repaid in May for the first time since August, according to Bank of England data published on Tuesday. Net consumer credit was £280m in May, reversing a trend seen throughout the majority of the pandemic as households reined in spending whilst the economy was shuttered. The positive [...]
Bank of England reprimands Euroclear over malfunction June 25, 2021 The Bank of England has taken supervisory action against Euroclear UK and Ireland after its CREST financial markets system crashed, it announced on Friday. The malfunction resulted in the Bank of England delaying purchases of government bonds through its bond buying programme. “The outage was caused by an issue with messaging software which resulted in [...]
Bank expects inflation to breach target and shoot above three per cent June 24, 2021 Bank of England expects inflation to breach target and shoot above three per cent
City looks to Bank of England for clues on inflation battle plan June 24, 2021 City looks to Bank of England for clues on inflation battle plan
New £50 note featuring WW2 codebreaker Alan Turing enters circulation June 23, 2021 A new £50 banknote celebrating mathematician Alan Turing, whose codebreaking skills helped Britain win WW2, entered circulation today. Turing is best known for designing machines to decrypt coded messages during WW2, as well as making discoveries in developmental biology. “Placing him on this new banknote is a recognition of his contributions to our society, and [...]
BoE appoints former Citibank economist Catherine Mann to rate-setting panel June 22, 2021 Britain’s finance ministry has today named former Citibank economist Catherine Mann as the newest member of the Bank of England’s Monetary Policy Committee (MPC). Mann’s three-year stint on the nine-member panel, which sets interest rates and oversees the BoE’s £895bn bond-buying programme, will replace Gertjan Vlieghe on 1 September, who is stepping down after six [...]