Mark Carney voices concern about Greek crisis in Bank of England Financial Stability Report July 1, 2015 The Bank of England was unable to give a stable outlook for the UK’s financial stability due to the ongoing Greek crisis, in its financial stability report today, saying the risks in relation to Greece and its financial needs “were particularly acute”. Mark Carney, the Bank's governor, warned the outlook for financial stability has worsened, [...]
Bank of England monetary policy committee could split over timing of first interest rate rise June 24, 2015 One of the MPC’s nine members, Dr Martin Weale, has indicated that the Bank of England should be prepared to raise the cost of borrowing as early as August. The comments indicate the monetary policy committee could soon face a split over when to raise interest rates from the historic low of 0.5 per cent they [...]
Is the UK going to solve its productivity puzzle? Deputy governor of the Bank of England Jon Cunliffe says yes June 22, 2015 The productivity puzzle may soon be solved, according to a high-ranking official at the Bank of England. Read more: Osborne uses speech to lay out government plans to tackle the productivity puzzle Jon Cunliffe, the deputy governor for financial stability, said that surplus labour in the jobs market was drying up, meaning companies would have to [...]
Cyclist dies after being hit by tipper truck outside Bank of England June 22, 2015 A female cyclist died during the morning rush hour after being hit by a tipper truck outside the Bank of England. The junction was closed to all traffic after the cyclist was hit just before 9am. Twitter users posted photographs of the scene. One user called the scene "horribly familiar". https://twitter.com/Londonnatter/status/612900792685735936 After paramedics were on [...]
Bank of England to launch new blog “Bank Underground” June 18, 2015 The old lady of Threadneedle street will lift up her skirt tomorrow with the launch of a new staff blog entitled "Bank Underground". The blog, named after the nearby tube station, will let Bank of England staff write editorials which support, as well as challenge, existing orthodoxies. Previously, Bank of England staff were limited to communicating with [...]
End Austerity Now: Far left group Class War organises separate Bank of England demo amid claims that police are banning people from the march June 18, 2015 Far left group Class War is organising a counter-protest against austerity this Saturday (June 20), claiming the main demonstration will fail to bring about any change. The group has called for supporters to meet outside Bank of England at midday – an hour ahead of the time scheduled for the march being organised by [...]
Think tank slams Bank of England stress tests for being far too weak June 17, 2015 A think tank has called for an end to regulatory stress tests on banks, saying they are “sleep- walking” the sector into another financial crisis. The Adam Smith Institute, a free market think tank, said the annual Bank of England tests – which are used to gauge the resilience of banks to volatile financials scenarios [...]
Bank of England Monetary Policy Committee meeting minutes show members vote 9-0 to keep rates unchanged in June June 17, 2015 The Bank of England's Monetary Policy Committee voted 9-0 to keep interest rates unchanged at its meeting ending June 3 minutes released today have shown. Read more: UK shrugs off deflation as prices rise 0.1 per cent in May All nine members voted to hold interest rates at 0.5 per cent, although two members said their [...]
Bank of England governor Mark Carney’s earned £880k last year June 15, 2015 Bank of England governor Mark Carney earned £879,773 last year, the Bank of England reported today. That figure is half again as much as the £586,010 he earned in 2013/14; however, it also represents the first time he has taken his full pay after he took on the role in July 2013. Meanwhile, Andrew Bailey, [...]
Bank of England’s Ian McCafferty says time for interest rate rise nearing June 12, 2015 Bank of England official Ian McCafferty has said the time for an interest rate hike is drawing closer, with the factors keeping a lid on inflation are expected to fade "as we move into next year". "The economy is starting to return to more normal conditions, after arguably the biggest shock in over a hundred [...]