Wednesday, 16 October 2019

Tag Archives: Bank of England

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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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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