The Bank of England could – and should– have raised UK interest rates much sooner July 20, 2015 Heartening as it was to hear the governor of the Bank of England, Mark Carney, dropping hints last week about the raising of Bank Rate, serious doubts remain over the effectiveness of the low interest rate regime in reviving the economy. Moreover, the impression continues to be given that the delay in raising rates carries [...]
Bank of England governor Mark Carney would be wrong to hike interest rates this year, and the next move should be a cut July 20, 2015 At a time when central banks all around the world are stimulating their economies through monetary easing and/or quantitative easing, it's madness that the Bank of England is considering raising interest rates – and if anything the next move should probably be a cut to 0.25 per cent. The Bank of Canada cut rates last [...]
Bank of England minutes to give clue on rate hike – London Report July 19, 2015 INCREASED rhetoric from the Bank of England suggesting an interest rate hike could come soon has sparked extra interest in this week’s minutes of the latest Monetary Policy Committee meeting. The minutes, out on Wednesday, will give clues as to how many MPC members are likely to vote for an interest rate before the end [...]
Here’s what analysts think about Bank of England governor Mark Carney’s interest rate rise comments July 17, 2015 Bank of England governor Mark Carney has dropped a few hints interest rates could rise from their record lows sooner than markets are currently expecting – but yesterday he was unusually clear. During a speech in Lincoln he said: "In my view, the decision as to when to start such a process of adjustment will [...]
Interest rate hike decision could come “at turn of the year – Bank of England Governor Mark Carney July 16, 2015 A decision on an interest rate hike – the first since the financial crisis – will be made by policymakers at the end of the year, Bank of England governor Mark Carney said in a speech on Thursday. Read more: Sterling jumps after Carney says interest rate hike "moving closer" The UK's economic recovery has [...]
Got change? Here’s what the Bank of England’s £1m “giant” and £100m “titan” notes look like July 16, 2015 The Bank of England has "giant" and "titan" bank notes, and they're worth £1m and £100m respectively. But you can forget day dreams of a cash machine accidentally dispensing one of these any time soon. While the high denotation bank notes aren't in circulation they're used to back the everyday value of notes issued by [...]
Sterling jumps after Bank of England Governor Mark Carney says interest rate hike “moving closer” July 14, 2015 The pound jumped to $1.56 this morning after Bank of England boss Mark Carney said an interest rate rise is "moving closer" as he appeared before the newly-formed Treasury Select Committee. "The point at which interest rates may begin to rise is moving closer with the performance of the economy, consistent growth above trend, a [...]
BoE says mortgage demand rose “significantly” in the second quarter July 13, 2015 The Bank of England's credit conditions survey, released today, has shown mortgage demand rose "significantly" in the second quarter, having fallen in the three previous quarters, and is set to rise again in the third quarter. The survey also showed demand for loans to big and small companies increased in the three months to mid-June [...]
Bank of England asks insurers to imagine terrorist attacks and hurricanes in stress test July 10, 2015 It's rather more dramatic than the stress tests banks were asked to endure: insurers have been told to envisage "worst case" scenarios as UK regulators analyse how the industry could cope with disasters including floods and terrorist attacks. The disasters are part of a series of stress tests put together by the Bank of England’s [...]
Bank of England holds interest rates as MPC minutes trial ends July 9, 2015 The Bank of England has finished an internal trial of new procedures and from now on will publish details of monetary policy decisions on the same day as they are made. In a much expected move, the nine-strong monetary policy committee held rates at 0.5 per cent today. They have been unchanged since March [...]