Bank of England official warns of risks building in the British mortgage market April 19, 2018 A top Bank of England official has warned that the UK’s mortgage market is showing signs of increasing risk in a speech today. Alex Brazier, executive director for financial stability strategy and risk at the Bank of England, said that the UK’s mortgage market was showing signs of greater risk. “A sharp slowing in credit [...]
The Bank of England moves with the fintech times as Transferwise granted settlement account with the real time gross settlement system April 19, 2018 The future of financial services regulation is a hot topic these days and it’s risen up the agenda thanks to a number of reasons. Most obviously, Brexit has necessitated a major debate about the direction of regulation, with competing voices calling for either robust mutual recognition (favoured by many in the City) or a bold [...]
DEBATE: Should the weaker inflation figures stop the Bank of England from raising rates next month? April 19, 2018 Should the weaker inflation figures stop the Bank of England from raising rates next month? Samuel Tombs, chief UK economist at Pantheon Macroeconomics, says YES. Inflation’s rapid fall to 2.5 per cent in March – well below the MPC’s 2.8 per cent forecast – from 3.0 per cent at the start of this year should [...]
Transferwise becomes first non-bank to join Faster Payments in landmark competition boost April 18, 2018 Transferwise last week became the first non-bank to join the UK’s Faster Payments system, in a landmark step which the Bank of England (BoE) hopes will boost competition in the payments sector. The fintech unicorn, which provides foreign exchange services, joined the system last Friday, the BoE announced today, giving it access to the same [...]
Inflation falls to lowest in a year: Here’s what economists think the Bank of England will do April 18, 2018 Inflation fell in March in a further boost to British households who have suffered a year of real wage falls, but the Bank of England’s job may have become trickier, according to economists. Consumer price inflation (CPI) fell by 0.2 percentage points in March to hit 2.7 per cent. The Bank targets two per cent [...]
GBPUSD: Sterling dives against the US dollar as inflation fall gives Bank of England headache April 18, 2018 Inflation fell significantly faster than expected by economists in March to hit its the lowest in a year, in a development which gives the Bank of England a “headache” as it looks to raise interest rates at its May meeting. The consumer prices index (CPI), which the Bank targets, fell to 2.5 per cent, while [...]
Bank of England cryptocurrency: More than half of Brits wouldn’t buy digital cash introduced by the Bank April 17, 2018 While cryptocurrency companies are hopeful that government acceptance could buoy public sentiment for the controversial digital assets, new research reveals more than half of Brits would not support the Bank of England (BoE) in launching its own cryptocurrency linked to the pound. A third of people said a government crackdown on rules for cryptocurrencies like [...]
GBPUSD: British real wages are officially rising again but sterling falls back against the US dollar after growth misses expectations April 17, 2018 Britons’ pay packets grew by 2.8 per cent in the year to February, officially ending a year of real wage falls as salary increases have finally overtaken price rises. The Office for National Statistics today reported that average weekly earnings for employees in Great Britain increased by 2.8 per cent, both excluding and including bonuses. [...]
GBPUSD: Sterling reaches new post-Brexit-vote high against US dollar as traders wait for key wages data April 17, 2018 The pound rose to another post-Brexit-vote high this morning against the dollar as US President Donald Trump talked down the greenback and traders anticipated wage data to confirm a course for a rate hike next month. Sterling traded at highs of 1.4373 this morning, its highest point since 23 June 2016 when the vote to [...]
Forex markets: British pound (GBPDUSD) reaches highest point since Brexit, US dollar remains steady April 16, 2018 After soaring to a ten-week high last week, sterling has inched to its highest point since the outcome of Britain’s Brexit referendum to trade at $1.43 against the greenback – only the second time it has reached that point since the vote. This follows a particularly strong finish last week, when sterling edged up to [...]