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Blockchain finance platform Quant is set to make infrastructure used in the Bank of England's CBDC test project available to businesses.
One of the Bank of England’s top officials has today warned markets not to get carried away with the number of rate rises coming down the line. Ben Broadbent, a member of the monetary policy committee (MPC) and a deputy governor at the Bank, said Threadneedle Street’s internal calculations worked out the response to the [...]
Fears of a protracted recession as long as the one caused by the financial crisis is weighing on Brits’ optimism, a new survey released today showed. Consumer confidence dipped four points at the beginning of August, according to Bank of America. “Confidence remains weak, consistent with recession, and all components worsened,” the Wall Street giant [...]
Today was one for the history books. The biggest jump in interest rates since the Bank of England was made independent 25 years ago. A looming recession similar in length to the financial crisis. The first time the Bank has raised rates while forecasting a protracted slump in recent memory. It is a lot to [...]
More people in the UK than ever are dissatisfied with the Bank of England’s efforts to tame the cost of living, a closely watched survey published today reveals. Just one in four Brits are happy with governor Andrew Bailey and co’s performance, the weakest level since records began in 1999, according to data from pollsters [...]
A larger rate hike is “on the table” at the Bank of England’s next meeting on 4 August, its chief said today. Speaking on a panel at the European Central Bank’s (ECB) forum on central banking in Sintra, Portugal, Bank governor Andrew Bailey did not rule out a steeper rate rise, saying “there will be [...]
The Bank of England will have to build on the biggest rate rise in nearly 30 years to sweep inflation out of the UK, a senior official at the monetary authority said today. Dave Ramsden, deputy governor at the Bank, told Reuters “it’s more likely than not that we will have to raise Bank Rate [...]
Further rate hikes will be needed to tame the worst inflation crunch in a generation, the Bank of England’s top wonk said today. Huw Pill, who succeeded Andy Haldane as the Bank’s chief economist last September, said at an Institute of Chartered Accountants in England and Wales event that in his view, getting inflation back [...]
UK inflation has soared to more than triple the Bank of England’s target, piling more pressure on the central bank to launch further rate hikes. Threadneedle Street is likely to pivot away from the dovish tone it set at its meeting last week after new figures published today by the Office for National Statistics (ONS) [...]
Inflation in the UK will soar far above the Bank of England’s target this year as the Russia-Ukraine war drives energy prices to record highs. Accelerating prices will hit “almost all businesses and consumers” this year and choke economic growth, Thomas Pugh, an economist at RSM, warned today, adding that the cost of living could [...]
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