Bank of England’s Huw Pill: Interest rates must remain high to tackle ‘persistent’ inflation October 16, 2023 Markets doubt whether a further rate hike will be necessary, but Pill reiterated that the Bank "still has some work to do in order to get back to two per cent".
UK to avoid recession despite Bank of England interest rate rises, EY predicts October 16, 2023 The UK will avoid a recession despite the impact of the Bank of England's interest rate hikes, new forecasts from the EY Item Club say.
Banks to face new stress tests as Bank of England remains on the prowl for financial stability risks October 10, 2023 Regulators at the Bank of England are looking to make certain that the UK financial sector remains resilient to shocks that may arise from the rapid rise in interest rates.
Mary Portas: High streets need Labour to ‘breathe life’ back into them October 9, 2023 Retail guru Mary Portas said she is “absolutely confident” a Labour government would “breathe life” back into Britain’s high streets. The broadcaster was appointed by then-prime minister David Cameron to lead a review into the future of British high streets in 2011. But Ms Portas, who presented Mary Queen of Shops, said she has been “frustrated” by [...]
Labour pledges ‘fiscal lock’ to protect UK economy, says Rachel Reeves October 9, 2023 A Labour government would deliver a “new fiscal lock” to legally guarantee significant tax and spending changes must be reviewed by economic experts, Rachel Reeves has vowed. The shadow chancellor said a government led by Sir Keir Starmer would “put forward a new charter for budget responsibility” in the wake of the chaos wrought by [...]
Bank of England will cut interest rates ‘much more quickly’ than Fed, think tank predicts October 5, 2023 Rising unemployment will force the Bank of England to cut interest rates "much more quickly" than the Federal Reserve, the Resolution Foundation predicted.
Bank of England warns banks have not learnt lessons from Truss gilts turmoil October 5, 2023 The Bank of England (BoE) said on Thursday it was disappointing that some of the banks it regulates have not tackled shortcomings in how they manage risks from customers after turmoil in UK government bond markets last September.
Bailey: Brexit has created ‘opportunities’ – but policymakers must tread carefully October 4, 2023 Andrew Bailey, governor of the Bank of England, warned that policymakers should take no chances with financial stability despite the "opportunities" that Brexit had created for the UK.
Insurers to face Bank of England’s ‘dynamic’ stress tests from 2025 October 3, 2023 Insurance firms will be subject to "dynamic" stress tests from 2025 as the regulator seeks to ensure the sector remains financially secure in the face of major regulatory changes.
Prime minister ‘should be able to fire’ Bank of England governor: Top Tory October 2, 2023 The Prime Minister of the day “should be able to fire the governor of the Bank of England”, Lord David Frost has said.