FTSE keeps rising as Bank of England holds interest rate at 0.5 per cent May 11, 2015 The FTSE 100 was the only European market to rise today, as investors continued to show their optimism at the outcome of the election and the Bank of England's decision to hold interest rates. By lunchtime, the FTSE was trading above 7,000 points for the second day in a row, 2.47 per cent up on [...]
Bank of England to reveal interest rate and inflation report – London Report May 10, 2015 THE BANK of England (BoE) will announce the latest Bank rate today, with economists expecting it to remain at its historic 0.5 per cent low. On Wednesday the BoE will announce its widely-watched inflation report. Employment and unemployment figures are also due that day and are expected to show a strong market. The corporate calendar [...]
Bank of England “clerical error” mis-states gilt purchases by £13bn May 7, 2015 Officials over at the Bank of England have admitted a clerical error meant data on the sale of UK government debt had mis-stated sales to the tune of £13.4bn. Figures out last week showed foreign investors were ignoring uncertainty surrounding the General Election, despite repeated warnings it could rile the markets, buying a record amount [...]
Bank of England stress test: British lenders assessed against global economic crunch March 30, 2015 Britain's biggest banks have to prove they could withstand a global economic crunch, under a stress test unveiled by the Bank of England yesterday. The fictional scenario is based on real fears that a slowdown in China and renewed recession in Europe could hit the UK economy and its banks. The six biggest banks [...]
Bank of England to stress test lenders on their reactions to global meltdowns and widespread deflation March 30, 2015 The Bank of England has unveiled a set of scenarios which will form the basis for this year's bank stress tests, warning British banks with global exposure such as HSBC and Standard Chartered will be the hardest hit. Seven of Britain's biggest banks will be test on their ability to withstand a dramatic slowdown in China, [...]
ECB, Bank of England reach agreement over clearing houses March 29, 2015 The European Central Bank and the Bank of England have hammered out a deal over the City's clearing houses, ending a lengthy dispute over whether euro denominated transactions should be cleared outside the Eurozone. It comes after Britain clinched a rare victory against the ECB in the European Union's second highest court. Because most clearing [...]
Banks stress as the Bank of England prepares to unveil tougher tests March 29, 2015 Britain's banks are bracing themselves for a batch of tougher stress tests to be unveiled by the Bank of England tomorrow, with the emphasis expected to shift away from domestic concerns and onto global risks. The tests take place annually, and focus on the potential impact of a different type of hypothetical crash each time. Last [...]
Bank of England says world risks could hurt City March 26, 2015 GLOBAL risks, from the slowdown in China to the chance of Greece leaving the Eurozone could trigger panic in financial markets, leading to severe pain in London, the Bank of England warned yesterday. The Financial Policy Committee (FPC) told firms like asset managers that they should be prepared to withstand rapid outflows of funds. “Any of these [...]
These are the four biggest threats to financial stability, according to the Bank of England March 26, 2015 The financial policy committee (FPC) which looks after financial stability over at the Bank of England, has outlined the areas it intends to keep a closer eye on in its quarterly assessment released today. 1. Geopolitical turmoil Eurozone turmoil could pose a threat to future financial stability. There have been some encouraging signs recently but [...]
Bank of England sorry for house sale hold ups March 25, 2015 MORE than 700 house sales were delayed by a day or more when the Bank of England’s Real-Time Gross Settlement (RTGS) payments system ground to a halt in October 2014, it said yesterday. It apologised for the problems, and has promised to improve the contingency plans in case it happens again. The RTGS system broke when [...]