The Financial Policy Committee (FPC) of Bank of England (BoE) has warned on Tuesday about possible financial outlook after Brexit. To tackle the possible lending market debacle, the committee has raised bank’s capital buffer requirement. However, the move has been criticized by the Brexit supporters whenever the referendum poll gets nearer.
Tags: Bank of England
UK Banks Slash Mortgage Rates Before Key Bank of England Vote — Analysts Predict Shock 0.25% Cut
Major UK lenders have cut mortgage rates ahead of the Bank of England's upcoming decision, igniting a competitive mortgage market just days before the MPC meeting.
Global Central Banks Set to Lower Interest Rates: How Could This Impact Your Loans and Savings?
Central banks globally are set to announce interest rate changes this week, with the US expected to cut rates by up to half a point, while other countries will either hold steady or make smaller adjustments.
UK Economy Grows 0.4% in May: Official Statistics
The United Kingdom’s Office of National Statistics released the latest economic figures, which revealed that the country’s economy grew by 0.4% in May.
King Charles III Banknotes Now in Circulation Across UK
First King Charles III banknotes went into circulation, according to the Bank of England. New bank notes that bear a portrait of King Charles III, and which will enter circulation on June 5, 2024, are displayed for a photograph after having been presented to Britain's King Charles III by Bank of England Governor Andrew Bailey and Bank of England Chief Cashier Sarah John, at Buckingham Palace in London on April 9, 2024.
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Francesca McDonagh, head of HSBC's retail business in the UK, is astonished over the lack of female representatives in the banking sector. She is worried about the slow progress of female reps in senior posts.
The British central bank has voted on Thursday to maintain a low interest rate. The uncertainties regarding and weak global trade outlook has made the committee to decide to maintain low interest rate.
The UK government and Office for National Statistics (ONS) have decided to enhance data quality. Taking central bank Governor Charlie Bean's suggestions into consideration, the British government has earmarked GBP 17 million ($24 million) investment for creating new centers of excellence.
In fear of Brexit, economists predicted British central bank will keep its interest rate low. While Bank of England Governor Mark Carney warned that Brexit will damage British financial stability.
Global stocks rose further as increased investor confidence propelled buying support. Investor confidence has been strengthened after the announcement of European Central Bank's stimulus plans and encouraging US economic data.
Bank of England has many choices to boost Britain's economy. The bank may slack its financial policy on fears that the country may exit the European Union.
Xavier Rolet, CEO of London Stock Exchange said that startup companies in United Kingdom need support to scale up. In order to make a leap from SME into a large cap business.
The UK house prices rose for the consecutive second month in January 2016. The UK property market demand is growing in the wake of lower interest rates and encouraging job growth rate. The average cost of a house in the UK was up 1.7 percent in January.
Under a supposed repatriation program, Germany is bringing back its gold reserves from the vaults of Paris and New York. Germany had stored all its bullion overseas fearing a Soviet Union attack during the Cold War. Till date, the Deutsche Bundesbank has managed to get around 366 tons to Frankfurt, which is almost half of the total reserve of 674 tons that it plans to repatriate by 2020.
