Natwest and Lloyds to cash in as Reeves hints at ring-fencing reform May 19, 2025 Rachel Reeves has told top bank bosses she is “open-minded” to ditch the ring-fencing regime imposed on major banks. The Chancellor was lobbied by the chiefs of HSBC, Lloyds, Natwest and Santander to scrap the 15-year-old legislation last month. Lenders slammed the system – which requires firms to keep their retail bank operations separate from [...]
Trump turbulence endangering global ‘soft landing’, BIS warns March 11, 2025 The economic convulsions wrought by Donald Trump’s volatile tariff announcements and swingeing public sector job cuts are threatening hopes of a soft landing after years of inflation, the Bank of International Settlements (BIS) has said. The BIS, known widely as the ‘central bank of central banks’, warned in its latest global report that while it [...]
Rate-setter calls on Bank of England to adopt ‘activist’ approach to rates March 6, 2025 The Bank of England should adopt a more activist approach to setting interest rates in order to deal with the “substantial volatility” affecting geopolitics and financial markets, a rate-setter has said. Catherine Mann, an external member of the Bank’s Monetary Policy Committee (MPC), argued that rate-setters should be more willing to vote for more radical [...]
Motor finance: Bank of Ireland sets aside £143m provision February 24, 2025 Bank of Ireland joined the UK’s biggest lenders in setting aside a lump sump for potential motor finance payouts as it posted its annual results. The bank recorded a pre-tax profit of €1.86bn (£1.5bn) for 2024, which was four per cent down on the €1.94bn (£1.6bn) reported in 2023. The bank set aside €172m (£143m) [...]
Central banks and investors drive record demand for gold February 5, 2025 Demand for gold reached record highs in 2024 fuelled by “eye-watering” interest from central banks and global investors, a fresh report has said. Total demand reached 4,974 tonnes, and the value of global demand shot up to $382bn, over a year which saw the gold price surge by 26 per cent. Central banks hoovered up [...]
Why the gold price will continue to rally in 2025 December 28, 2024 The untrammelled ascent of bitcoin has occupied the attention of many market watchers of late, with Donald Trump’s election to the White House sending the cryptocurrency – and others like it – on an eye-watering tear. Bitcoin has risen nearly 50 per cent since November 3 – the eve of the US election – while [...]
Forget Reeves’ CV – there’s a bigger transparency problem in monetary policy November 28, 2024 The real discussion shouldn’t be about whether Reeves deserves to call herself an “economist”. It should focus on the unchecked power of current central bank leaders, the far-reaching consequences of their decisions, and how we hold them to account, says Tim Focas The recent controversy over Rachel Reeves’ tenure as an economist at the Bank [...]
ECB cuts interest rates again as inflation continues to fall October 17, 2024 The move means the main interest rate was reduced by 25 basis points to 3.25 per cent, down from a peak of four per cent which was reached last September.
China unveils stimulus package in bid to kickstart flagging economy September 24, 2024 China has unveiled its largest set of economic stimulus measures since the pandemic in an attempt to kickstart growth in the world’s second largest economy. The People’s Bank of China (PBoC) announced today it had cut its benchmark interest rate by 50 basis points, as well as the amount banks must hold as cash reserves, [...]
Yellow fever: Central banks and private investors keep demand for gold buoyant July 30, 2024 Private investors and consistent demand from central banks where the two dominant behind the second quarter's consecutive all-time highs in the gold price an industry report has found.