Monday, 25 May 2020

Tag Archives: Bank of England

BoE to buy 554mn stg of gilts over next 3 months

LONDON: The Bank of England said that it intended to buy 554 million pounds ($691.95 million) of British government bonds over the next three months independently of its main asset purchase programme. The BoE said the purchases were part of its programme of investment of its free capital and reserves. ...

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Bank of England eases rules for credit unions during pandemic

LONDON: The Bank of England has allowed credit unions to set aside less capital to cover borrowers unable to repay loans during the coronavirus crisis. Where a loan is more than three months in arrears, a credit union can provision for 20pc of the loan with immediate effect until January, ...

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Bank of England says keeps interest rate at 0.75pc

LONDON: The Bank of England said it had voted to keep its main interest rate at 0.75 percent as it balances Brexit uncertainty and weak global growth. The Monetary Policy Committee decided unanimously to hold borrowing costs at a regular meeting held Wednesday, the BoE said in published minutes. “Since ...

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Facebook’s Libra currency under fire

LONDON (AFP) – Facebook’s planned virtual unit Libra, already under heavy attack from US President Donald Trump and global regulators, faces scepticism among the wider cryptocurrency community as well. One theme – besides Brexit – dominated discussion among the movers and shakers from London’s financial technology or FinTech industry as ...

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New UK bank note to feature mathematician Turing

LONDON: The Bank of England on Monday said World War II code-breaker Alan Turing had been chosen to feature on the back of Britain´s new £50 bank note ($63, 56 euros). “Alan Turing was an outstanding mathematician whose work has had an enormous impact on how we live today,” Bank ...

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Maduro withdrew 8 tonnes of gold from Venezuela’s central bank

LONDON: Two weeks ago, the president of crisis-ridden Venezuela suggested that the Bank of England had frozen some 80 tonnes of Venezuela’s gold and expressed hope that his country would not be robbed of the gold that legally belongs to it. At least eight tonnes of gold have allegedly been taken ...

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How Venezuela turns its useless bank notes into gold

EL CALLAO: Venezuela’s most successful financial operations in recent years have not taken place on Wall Street, but in primitive gold-mining camps in the nation’s southern reaches. With the country’s economy in meltdown, an estimated 300,000 fortune hunters have descended on this mineral-rich jungle area to earn a living pulling ...

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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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