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 [...]
Bank of England shouldn’t cut rates over deflation – Monetary Policy Committee member David Miles March 25, 2015 Bank of England Monetary Policy Committee member David Miles has sought to quash fears over deflation, saying any foray into negative territory would be short-lived and shouldn’t lead to rate cuts. Speaking in an interview with the Financial Times, Miles, one of the more dovish members of the MPC, said that he expected the rate of [...]
Bank of England’s Minouche Shafik: Interest rate rise likely despite low inflation March 25, 2015 The Bank of England's deputy governor Minouche Shafik has said that interest rates will rise, rather than fall, despite official data released yesterday showing prices had failed to grow at all in February. Shafik said the bank should not cut interest rates further in response to the current bout of low inflation, which is being driven [...]
Andrew Haldane: Bank of England must “stand ready” to cut interest rates if outlook for deflation markedly worsens March 19, 2015 The Bank of England's chief economist has said it must "stands ready" to cut record-low interest rates further, if the risk of the economy falling into a prolonged period of deflation intensifies. "In my view, that means policy needs to stand ready to move off either foot in the period ahead to meet the symmetric [...]
Bank of England minutes: Strong pound risks exacerbating deflation March 18, 2015 Bank of England policymakers think the strong pound could exacerbate the current period of low inflation. Minutes released today showed the monetary policy committee believes divergent monetary policy trends, and a strengthening economy, could cause the pound to appreciate further. "This has the potential to prolong the period for which consumer price inflation would remain [...]
Bank of England governor Mark Carney says global deflation forces, strong sterling could delay rate hike March 12, 2015 Bank of England governor Mark Carney has said that low inflation outside of the UK, as well as a strong sterling, could cause the central bank to push back a rate hike. "It may be appropriate to take into account persistent external deflationary forces arising from the combination of continued foreign low inflation and the [...]
Self-employment is not bad, says Bank of England March 11, 2015 Self-employment has boomed in recent years because of changes in technology making it easier for people to set up on their own, a Bank of England analysis showed today. Its report came as the National Institute for Economic and Social Research (NIESR) said GDP growth is growing at a strong and steady pace. Self-employment accounts for [...]
Bank of England’s Martin Weale: Interest rate hike remains “finely balanced” March 11, 2015 The eventual interest rate hike remains "a finely balanced tug of war" and "pulls in both directions have intensified", a member of the Bank of England's rate-setting committee said in a speech made today. Weale said the bank must weigh the fact rising wages without a corresponding pick-up in productivity will strengthen the case for [...]
Bitreserve and CNET founder Halsey Minor talks dot-commers, virtual currencies and the Bank of England’s open-mindedness March 8, 2015 You might not have heard of Halsey Minor, but it’s likely that you’ve indirectly benefited from one of his many achievements. He’s one half of the brains behind CNET, the technology media website which, founded in 1994, was in the vanguard of internet firms, and is still one of the most-visited tech information resources in [...]
Bank of England tight lipped on liquidity market probe March 5, 2015 Threadneedle Street was on lockdown yesterday, as Bank of England officials declined to give any details of potential fraud around its liquidity operations in the crisis years. A spokesperson for the Bank said it would not answer questions on speculation over which of the Bank’s schemes the alleged fraud relates to. “We are not getting [...]