News Tag: BoE
August 12, 2009
The Bank of England has released its latest quarterly inflation report, which warned that the UK recession is worse than expected but economic recovery prospects are improving.
In addition the Bank forecast that the consumer price index inflation benchmark is to stay well below its 2% target for the next two years - inflation is currently at 1.8%.
The Governor of the ...
BoE issues gloomy quarterly inflation report
by Kay Murchie
April 10, 2009
The Bank of England's sixth consecutive interest rate cut is finally having an impact on the housing market as interest rates on the nation’s five most popular mortgage deals are at their lowest for the last year and a half.
The Bank of England’s latest figures released yesterday shows that the average two-year fixed-rate deal available to borrowers, who ...
Mortgage rates at five-year low as interest rates held
by Peter Charalambous
October 17, 2008
The Bank of England (BoE) is attempting to thaw the frozen credit markets by introducing permanent liquidity schemes.
Some aspects of the Special Liquidity Scheme (which allows banks to swap illiquid assets such as mortgage-backed securities for highly liquid assets such as Treasury bills) is to be a permanent fixture of the money markets.
Furthermore, Mervyn King, the Bank of England’s Governor, said there ...
BoE announce liquidity measures
by Kay Murchie
October 5, 2008
Mervyn King, the Bank of England’s Governor, is under severe pressure to slash interest rates this week to fight off a recession.
The Monetary Policy Committee (MPC) is to meet on Wednesday with an announcement on Thursday lunchtime, and many economists believe that a quarter point reduction is inevitable. Rates have remained the same since April in a bid ...
BoE under pressure to make aggressive interest rate cuts
by Kay Murchie
October 3, 2008
The Bank of England’s quarterly credit conditions report, published today, has added to the doom and gloom surrounding the British economy, after it revealed that Britain's banks and building societies are set to make even more cutbacks in their lending.
The report, which surveys lenders about the previous quarter and their predictions for the next quarter, confirmed that lending by ...
BoE report reveals lending to reduce even further
by Kay Murchie
July 22, 2008
The Bank of England’s Governor, Mervyn King, has said today that banks should put billions of pounds into a fund over the next 10 years to compensate customers in the event of another Northern Rock collapse.
Mr King was speaking members of the House of Commons Treasury Select Committee on the issue of banking reform, and said that he believed the ...
BoE Governor calls for savers’ guarantees
by Kay Murchie
July 7, 2008
Official data has revealed that manufacturing production fell in May triggering fears that the UK economy is heading towards a recession.
The figures were much worse than anticipated as output fell by 0.5% during the month, while the wider measure of industrial production, including energy and water output, dropped 0.8%.
The latest fall in manufacturing left the level of ...
Sharp fall in manufacturing output fuels recession fears
by Kay Murchie
May 21, 2008
Northern Rock chairman, Ron Sandler, has warned that sharp house price falls could delay its plans to repay the billions of pounds it owes the Bank of England.
Mr Sandler said if house prices were to decline 5%, 10% or 15%, that would seriously impede fulfilling the plan and added I can't give you a single ...
Northern Rock loan repayments could be delayed by house price falls
by Kay Murchie
May 11, 2008
The British Chambers of Commerce (BCC) has warned that the UK economy set to be even weaker in 2009.
The BCC said the current economic slowdown will be more prolonged than previously anticipated.
It warned that businesses should prepare themselves for a long slog before the credit crunch is over.
The organisation added that the Bank of ...
Economy set to be even weaker in 2009, warns BCC
by Kay Murchie
