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Tag Archives: Bank of England

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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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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