The Bank of England’s chief economist, Huw Pill, said on Wednesday that he does not see a return to quantitative easing any time soon. “It doesn’t mean that at some point in the future we won’t be back to where we were – the need to ease policy and quantitative easing will come back,” he […]
Tag: Bank of England
Britain: Liz Truss and Rishi Sunak cross swords on inflation and potential recession
British Foreign Secretary Liz Truss clashed on Thursday over the future of the economy with former Chancellor of the Exchequer Rishi Sunak, both vying for the prime ministership, in a televised debate over the Bank of England’s warnings of a prolonged economic downturn. recession. Truss is a challenger to Sunak in the race for the […]
Sterling tumbles after resounding BoE rate hike
Sterling fell after the Bank of England’s resounding interest rate hike, the biggest since 1995, in its attempt to tame inflation that is expected to exceed 13% in the coming months. In particular, the BoE raised its interest rate by 50 basis points to 1.75%, while warning that the British economy is on the brink […]
BoE: Resounding interest rate hike of 50 basis points to 1.75%
The Bank of England raised interest rates by another 50 basis points, the biggest since 1995, on Thursday despite warnings that a long recession looms as it steps up action to tame inflation expected to climb to 13 %. Frustrated by the spike in energy prices caused by Russia’s invasion of Ukraine, the central bank’s […]
The Bank of England seeks to preserve the role of cash in transactions
The Bank of England is seeking to preserve the role of traditional notes and coins in everyday transactions, keeping them an option for consumers as electronic forms of payment grow in popularity, according to Bloomberg. Sarah John, chief treasurer of the UK’s central bank, said it would be a “long time” before society was ready […]
Chief BoE economist: We would sacrifice growth to control inflation
The chief economist at the Bank of England, Huw Pill, said policymakers would sacrifice growth to control inflation in the UK, saying there was a risk that rising prices could have a “self-fulfilling prophecy” dynamic. Bloomberg. Speaking at an online event on Tuesday, Pill said further monetary policy would need to be tightened in the […]
The Bank of England and the British Ministry of Foreign Affairs will intensify the fight against inflation
Britain’s policymakers are toughening their stance on inflation as they prepare to deliver a tough dose of “medicine” at a time when the cost-of-living crisis is hurting growth and consumers, according to Bloomberg. The government of Prime Minister Boris Johnson, together with the Bank of England, this week signaled their readiness to raise interest rates […]
BoE: Raises interest rates by 25 basis points to 1.25% (upd)
LAST UPDATE 14:20 The Bank of England raised interest rates by a further 25 basis points, but said it was ready to take action to offset the risks posed by inflation that has topped 11%. A day after the US Federal Reserve raised interest rates to its highest level since 1994, the BoE maintained its […]
Bank of England: Raises its interest rate to 1% – the highest since 2009
The Bank of England today raised its interest rate to 1%, the highest level since 2009, as it intensifies its efforts to tackle inflation, which is now approaching 10%. The bank’s monetary policy committee voted 6-3 to increase its interest rate by 25 basis points, from 0.75% previously. Three members of the commission, Catherine Mann, […]
The BoE outlines the first regulatory framework for cryptocurrencies
The Bank of England outlined the first regulatory framework for the operation of the cryptocurrency market on Thursday, noting that while the sector remains small, its rapid growth poses risks to future financial stability if not regulated. Cryptocurrencies have recently come to the attention of regulators amid concerns that the industry could be used to […]