bank of england
- Business
Government ‘going backwards’ on green investment, says CBI chief Danker
C ompanies have been left “confused and disappointed” as the Government has started “going backwards” on encouraging green growth in…
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Union questions Bank of England over cash shortage fears as G4S staff to strike
U nions have warned that businesses and customers could face cash shortages as it urged the Bank of England to…
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Peel Hunt profits decimated by lack of City deals
C ity broker Peel Hunt has revealed that half-year profits crashed to just £100,000 due to a dearth of deals…
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Bank’s chief economist says Brexit played a part in inflation surge
T he Bank of England’s chief economist has said that Brexit has had an impact on the labour market and…
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No clarity or forecast before ‘extraordinary’ mini budget, Bank boss says
T he Governor of the Bank of England has said that the lack of communication from the Treasury ahead of…
Read More » - Banking
BoE starts sales of bonds bought during emergency gilt market operation
Unlike prior gilt sale operations where there is a fixed amount to be raised, the BoE will sell long-maturity and…
Read More » - Finance
The Fintech Files: Fidelity cashes in on crypto mayhem, Cunliffe calls for regulation, FTX bankruptcy latest
The collapse of Sam Bankman-Fried’s FTX has shattered confidence in the crypto sector and, in some people’s eyes, presented it…
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HSBC raises rate on savings account from 1% to 5%
S avers will see the rate on a fixed-rate account jump from 1% to 5% from December, HSBC UK has…
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England’s most deprived areas see biggest cut-backs as living costs soar
T he cost-of-living crisis is weighing more heavily on people living in the most deprived areas of England, new official…
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Rare banknotes going under the hammer to help raise money for food banks
S ome rare banknotes held by NatWest are being auctioned to help raise funds for food banks. The auctions will…
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Demand ‘shifting to rental homes as would-be buyers wait for more certainty’
R ental sector inquiries have jumped as some would-be home buyers take a pause, according to a property website. The…
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Bank’s deputy governor ‘conscious of great hardship’ faced by millions
T he deputy governor of the Bank of England has said he is “acutely conscious” that raising interest rates is…
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De La Rue warns jobs under threat after third profit alert this year
B anknote printer De La Rue has warned over possible job cuts as it looks to ramp up cost savings…
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Surge in energy stocks helps push FTSE 100 to two-month high
T he FTSE 100 has jumped to a more than two-month high despite a new Organisation for Economic Co-operation and…
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2023 will be a very difficult year, OBR member warns MPs
T he official UK economic forecaster has warned MPs that “2023 is going to be a very difficult year” for…
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House sales held steady last month but experts warn of ‘looming storm’
H ouse sales held steady in October, with the volume of transactions increasing by 2% month-on-month, according to HM Revenue…
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Santander unveils new current account with cashback and linked savings interest
C ompetition in the current account market is heating up as Santander has launched a new deal which comes with…
Read More » - Banking
Warning over mortgage ‘timebomb’ from biggest hike in payments ever
Warning over mortgage ‘timebomb’ as homeowners ‘face biggest hike ever’ – with typical monthly payments doubling to £474 – an…
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What is a recession? Jeremy Hunt confirms UK economic decline in Autumn Budget
In addition, the government debt is projected to soar by £400 billion higher than initially expected, causing the economy to…
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Why the Bank of England is struggling to calm markets
A crisis in UK government debt markets accelerated after a fresh attempt by the Bank of England to extend support…
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Bank of England boosts bond purchases programme amid ‘fire sale’ risk
The Bank of England added inflation-linked government bonds to its programme of bond purchases after a fresh attempt to extend…
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OBR confirms UK recession and weakest public finances ‘for many decades’
In its fresh forecast, published alongside the government’s Autumn Statement today (17 November), the OBR unveiled the full impact of…
Read More » - Finance
Bank of England affirms end of bond-buying plan after report of possible extension
The Bank of England confirmed that its emergency bond-buying scheme will end on 14 October, after a Financial Times report…
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BoE ‘will need to extend’ gilt support, says ex-pensions minister
Former Conservative pensions minister Baroness Ros Altmann says it is “highly likely” the Bank of England will need to continue…
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Chancellor vows tax hikes and spending cuts needed to ‘face economic storm’
C hancellor Jeremy Hunt will promise a plan to weather an economic “storm” as he risks a backlash by unveiling…
Read More » - Banking
Andrew Bailey defends extended QE as inflation hits record highs
Speaking at a Treasury Select Committee alongside several central bank colleagues, Bailey was grilled over the Bank’s interest rate polices…
Read More » - Politics
Brexit Is Hurting The UK Economy, Bank Of England Official Says
Brexit is harming the UK economy, a Bank of England policy maker has said in the latest stark warning about…
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Surging energy bills send inflation to 41-year high ahead of autumn budget
U K inflation soared to a 41-year high of 11.1% last month as rocketing energy and food prices intensified the…
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Mini-budget damaged UK’s reputation, says Bank governor Bailey
F ormer prime minister Liz Truss’s mini-budget damaged the UK’s reputation abroad, the governor of the Bank of England has…
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British Land posts slump in property values after interest rate hikes
C ommercial landlord British Land has revealed a plunge in the valuation of its offices and shops as the FTSE…
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Inflation ‘enemy we need to face down’ says Sunak as tax rises loom
R ishi Sunak acknowledged the anxiety felt by households as he prepared to unveil tax rises and spending cuts to…
Read More » - Banking
Former FCA chair warns Financial Services Bill ‘risks regulators’ independence’
Charles Randell, who stood down as chair at the end of May after four years, wrote in The Times that…
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Inflation set to leap to new 40-year high after eye-watering energy bill hike
P ainful gas and electricity bill rises in October are expected to send UK inflation surging to a fresh 40-year…
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Lessons will be learned from shock to pension funds, says boss of regulator
L essons will be learned from the shock to pension funds which happened during recent market volatility, according to the…
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Unemployment rate rises amid ‘mounting signs of cracks’ in UK jobs market
B ritain’s rate of unemployment has risen unexpectedly amid mounting signs of a cooling jobs market as the UK heads…
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Warning of Brexit damage to economy as Paris overtakes London’s stock exchange
B rexit has “permanently damaged” the UK economy, former Bank of England policymaker Michael Saunders warned as London was deposed…
Read More » - world-News
UK Economy ‘Permanently Damaged’ By Brexit, Says Ex-Bank of England Official
A former Bank of England policymaker has said that the UK economy has been “permanently damaged” by Brexit, because it…
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UK stock market knocked off top spot by France
P aris has overtaken London as the home of Europe’s biggest stock market, new analysis has revealed. The French stock…
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Boost for savers as some average rates hit best level in more than a decade
T he average easy-access savings rate has improved to its best level in more than a decade, according to analysis.…
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Ministers plan to crack down on ‘outrageous’ waste as Chancellor plays Scrooge
M inisters are determined to crack down on an “outrageous” waste of public money while seeking billions in tax hikes…
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Hunt: I’m Scrooge with a plan to save Christmas by beating evil inflation
J eremy Hunt has declared he is “Scrooge” out to save Christmas as he warned of “horrible decisions” on tax…
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What is a recession? UK output falls and interest rates go up
The Office for National Statistics said on Friday (November 11) that the gross domestic product, or GDP, decreased by 0.6…
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UK on course for recession after economy shrinks in September
T he UK may have entered what experts say could be the longest recession in a century as official statisticians…
Read More » - Politics
Jeremy Hunt Warns Of ‘Tough Road Ahead’ As UK Moves Towards Recession
Chancellor Jeremy Hunt has warned of a “tough road ahead” as the UK made the first step towards recession. The…
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Londoners brace for a long recession that could start with data due out this week
A fter the Bank of England’s bleak warning of the longest recession in modern times, the UK finds out this…
Read More » - Banking
Finding stability in a sea of uncertainty
As public markets appear to settle, even if temporarily ahead of the UK’s Budget on 17 November, assessing the landscape…
Read More » - Market
FTSE 100 Stock Persimmon Slumps 7% As Update Reveals Sinking Housing Market
Photo by David Potter/Construction Photography/Avalon/Getty Images Getty Images Housebuilder Persimmon slumped in Tuesday trading as it announced falling demand for…
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Bank of England official concedes printing money fuelled UK inflation
A bitter pill: At last! Top Bank of England official finally concedes printing money – and lockdown – fuelled Britain’s…
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Persimmon reveals falling demand and prices as UK housing market falters
H ousebuilding giant Persimmon has revealed tumbling buyer demand, rising cancellations and falling prices as economic gloom and soaring mortgage…
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