Bank of England makes ‘substantial amendments’ to proposed banking overhaul September 12, 2024 "The bottom line is that we have made substantial amendments to our proposals in response to consultation feedback and evidence," Phil Evans, director of prudential policy, said in a speech published on Thursday.
Value of mortgages in arrears hits highest level since 2014 – Bank of England September 10, 2024 Mortgage holders are continuing to feel the pain from the Bank of England’s efforts to combat inflation, according to new figures. Data released by the Bank showed that the value of outstanding mortgages in arrears hit £21.9bn in the second quarter of this year, the highest figure since 2014. This was a 32 per cent [...]
Bank of England gets the ‘green light’ for another rate cut following wage figures September 10, 2024 For the second month in a row the figures show that pay growth eased markedly even while unemployment edged lower.
Wage growth slows ‘markedly’ in a boost for the Bank of England September 10, 2024 Strong wage growth has been a concern for policymakers at the Bank of England due to fears that it could keep cost pressures elevated, particularly in the labour-intensive services sector.
Bank bosses set for Downing Street summit amid windfall tax fears September 8, 2024 The bank CEOs are likely to be just as nervous about the prospect of any windfall taxes which could be announced in October's Budget.
The City needs a shake-up for Britain to attract the £1trillion it needs, warns Sir Nigel Wilson September 6, 2024 The UK must unlock a wave of cash from domestic pension funds and revamp the structure of its capital markets to attract the £1 trillion of investment needed to achieve its target growth rate over the next decade, a report by a City grandee has found. The Capital Markets of Tomorrow report, led by former [...]
Bank of England should take ‘measured approach’ to interest rate cuts after balanced survey September 5, 2024 The Bank of England’s survey covers prices charged across the whole economy, not just in consumer-facing firms.
Services firms benefit from post-election stability and rosy economic outlook September 4, 2024 The survey put activity in the services sector at its fastest pace since April, extending the current period of growth to ten months.
Pound’s rally fades ahead of crucial US jobs data September 3, 2024 The pound’s stunning rally has stalled as traders look for direction amid a quiet week in the data calendar for the UK. Sterling was trading 0.2 per cent lower against the dollar at around $1.311 having lost over one per cent against the greenback in the past five days. The dollar has been trading around [...]
Regulator set to postpone UK bank capital reforms until at least January 2026 August 29, 2024 The UK’s main banking regulator is reportedly planning to delay the latest series of bank capital reforms as it monitors how the rules are developing in the US. The Bank of England’s Prudential Regulation Authority (PRA) is set to delay its entire Basel 3.1 package until at least January 2026, with an official announcement expected in the [...]