Run on the Bank of England or is it just Open House weekend? September 21, 2014 Anyone walking past the Bank of England yesterday would’ve been forgiven for thinking there was a Northern Rock-style run on the Bank, as a queue formed right around the historic building and down the street. Luckily, it was just Open House weekend. The Cheesegrater, The Gherkin and The Lloyd’s Building also welcomed visitors for a [...]
MPC split again as two Bank of England policymakers vote to raise interest rates September 17, 2014 Bank of England policymakers voted to hold interest rates at a record low of 0.5 per cent again in September, despite two members of the monetary policy committee arguing to raise rates for the second month in a row. Minutes of the MPC's monthly meeting, published this morning, showed the hawkish Ian McCafferty and Martin [...]
Bank of England fears rate hike could send assets topsy turvy September 11, 2014 INVESTORS must be prepared for an increase in interest rates in the UK and across the world, or risk market chaos when the hike happens, Bank of England policymaker Donald Kohn said yesterday. Kohn fears that investors have surged into risky assets in a search for yield – exactly as very loose monetary policy was [...]
Bank of England likely to extend De La Rue money printing licence September 8, 2014 A licence to print money looks set to continue at banknote printer De La Rue, as the Bank of England (BoE) yesterday announced the Basingstoke based firm was its preferred bidder for a contract to print sterling banknotes. De La Rue, which first printed banknotes in 1860 for Mauritius, began printing banknotes for the BoE [...]
Bank of England MPC votes to keep interest rates at record low September 4, 2014 The Bank of England's monetary policy committee has done just what everyone was expecting, and held rates where they are at 0.5 per cent. The minutes of last month's meeting revealed the nine-person panel had been split seven to two in favour of leaving rates at their historic lows, and it is considered unlikely that [...]
Bank of England’s Martin Weale and Ian McCafferty vote against Mark Carney on interest rate hike August 20, 2014 Two policymakers finally split from the Bank of England’s unprecedented unanimity this month, voting for what would be the first interest rate hike in six years. The Bank’s two most hawkish monetary policy committee (MPC) members, Martin Weale and Ian McCafferty voted for a modest increase in interest rates. The change would have brought the [...]
Pound jumps against dollar as Bank of England minutes reveal interest rate vote dissent August 20, 2014 Two members of the Bank of England's rate-setting monetary policy committee (MPC) voted in favour of raising interest rates by 25 basis points to 0.75 per cent during the August meeting, minutes published today showed. This is the first time since 2011 the committee has been split on interest rates. The vote took economists by [...]
Bank of England flags dismal wages as holding back interest rate hike August 13, 2014 The Bank of England’s inflation report, released yesterday, showed off Threadneedle Street’s increasing focus on wage growth – one of the last indicators lagging behind the economic recovery, and holding off an increase in interest rates. The Bank has slashed its forecast for the average rise in earnings this year. In the last report, the [...]
Scottish independence: Carney says Bank of England has contingency plan if Scots vote yes August 13, 2014 Tha Bank of England is ready for the consequences of a Scottish yes vote and will not abandon the nation, its governor Mark Carney has said. Scottish first minister (and figurehead of the "Yes" campaign), Alex Salmond, has shown his determination to stick with the pound, despite the three main Westminster parties indicating they would [...]
Scottish independence currency contingency plans in place, says Bank of England’s Mark Carney August 13, 2014 Contingency plans have been made by the Bank of England ahead of the Scottish referendum in response to uncertainties over the country’s currency if it becomes independent. Bank of England governor Mark Carney said the body had "a wide range of tools and plans" to deal with any financial issues arising from the referendum, regardless [...]