Saturday, 17 November 2018

Tag Archives: Bank of England

Bank of England trims growth outlook, holds rates as Brexit looms

LONDON: The Bank of England trimmed its growth forecasts as Brexit approaches and froze interest rates – but warned it could alter monetary policy “in either direction” after Britain leaves the European Union. The central bank’s nine-strong Monetary Policy Committee (MPC) voted unanimously at a regular policy meeting to keep ...

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Bank of England poised to push rates above crisis lows

ONDON: The Bank of England looks set to pass a post-financial crisis milestone next week by finally raising interest rates above their emergency levels set more than nine years ago. But with a potentially messy Brexit nearing, Governor Mark Carney may sound cautious about the pace of further moves away from ...

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BoE chief says Cryptocurrencies are failing as money

LONDON: Cryptocurrencies are failing as a form of money and have shown classic signs of being a financial bubble, requiring regulators to protect consumers and stop their use for illegal activities, Bank of England Governor Mark Carney said today. Carney did not call for a ban on cryptocurrencies such as ...

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British firms plan biggest pay rises since 2008

LONDON: British workers are in line for their biggest pay rises since 2008 this year as a higher minimum wage kicks in, according to a Bank of England survey that is likely to fuel concerns among its policymakers’ over inflationary pressures. Last week the central bank said interest rates would ...

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UK Mortgage Approvals at 3-Year Low

U.K. lenders approved the fewest mortgages in almost three years in December as a Bank of England interest-rate increase added to the headwinds facing the housing market. The number of approvals fell to 61,039, down from the 64,712 in November and the lowest since January 2015, the U.K. central bank said ...

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UK economy could start to pick up, says Mark Carney

LONDON: Britain’s economy has the potential to start catching up with the rest of the world as the outcome of the Brexit negotiations becomes clearer, the governor of the Bank of England has said. Mark Carney said there was the prospect of a “conscious recoupling” after seeing the international economy ...

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Bank of England keeps interest rates on hold

LONDON: The Bank of England has kept its main interest rate unchanged at 0.50 percent, a month after increasing borrowing costs for the first time in a decade to contain a rise inflation stoked by last year’s Brexit vote. Thursday’s decision was unanimous in the bank’s nine-strong policy committee. It ...

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Bank of England pay gap caused by shortage of women

LONDON: The Bank of England has defended its efforts to boost diversity despite unveiling a gender pay gap of 21%. While the Bank’s male and female staff are paid the same, the higher proportion of men in senior positions means there is a gap in the average hourly earnings. On ...

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UK GDP: Growth figures raise chances of rate rise

LONDON: The UK’s economy had higher than expected growth in the three months to September – increasing the chances of a rise in interest rates in November. Gross domestic product (GDP) for the quarter rose by 0.4%, compared with 0.3% in each of 2017’s first two quarters, according to latest ...

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UK house prices hit their highest on record

LONDON: The average UK house price hit £225,109 in September – its highest on record, according to a closely-watched survey. Halifax’s house price index showed prices grew at their fastest rate since February in the three months to September, rising 1.4 per cent on the previous three months. On an ...

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