Wed, Nov 15, 2023
British power generator and network operator SSE Plc reported half-yearly earnings above its forecast, taking the shares up by 2.2 per cent.
The Bank of England's forecasts and the consensus from a Reuters poll of economists had pointed to a reading of 4.8 per cent.
Thu, Nov 02, 2023
Despite publishing forecasts which show the British economy skirting close to a recession and flat-lining in the coming years, the BoE held Bank Rate at 5.25% for the second meeting in a row after 14 back-to-back increases.
Fri, Aug 05, 2022
Soaring natural gas prices are likely to drive consumer price inflation to 13.3% in October, from 9.4% in June, the bank said. That will push Britain into recession later this year, with economic output declining each quarter from the fourth quarter of 2022 through the fourth quarter of 2023, bank forecasts show.
In another warning sign for the global economy, the closely watched part of the U.S. Treasury yield curve measuring the gap between yields on two- and 10-year Treasury notes reached 39.2 basis points overnight, the deepest inversion since 2000.
Fri, Jul 22, 2022
The ECB's surprise hike of half a percentage point for the 19 countries using the euro currency is expected to be followed by another increase in September.
Mon, Jul 15, 2019
British computer pioneer and codebreaker Alan Turing will feature on the new design of the Bank of England`s 50 pound note, it was revealed on Monday.
He is celebrated for his code-cracking work that proved vital to the Allies in World War Two, the BBC reported.
Wed, Jul 03, 2019
Bank of England Governor Mark Carney said a global trade war and a no-deal Brexit were growing risks to Britain`s economy which might need more help to cope with a downturn, prompting investors to increase their bets on a BoE interest rate cut.
Tue, May 14, 2019
Britain may need to copy the United States in building a "super shield" against catastrophic cyber attacks or major IT glitches that could cripple the finance industry, a senior Bank of England official said on Tuesday.
Thu, Feb 07, 2019
The Bank of England said Britain faces its weakest economic growth in a decade this year as uncertainty over Brexit mounts and the global economy slows, but stuck to its message that interest rates will rise if an EU divorce deal is done.
Tue, Nov 27, 2018
Sir Jagadish Chandra Bose is one of the scientists nominated in the first stage of the Bank of England's search for the face to feature on the new currency to go into print from 2020.
Thu, Oct 18, 2018
A campaign for British Indian World War II spy Noor Inayat Khan to be featured on a redesigned 50-pound currency note is gaining momentum in the UK.
Sun, May 06, 2018
Unexpectedly weak economic data and cautious remarks from Governor Mark Carney have dashed what looked like near-certain expectations of a rate increase until a few weeks ago. Since he joined the BoE in 2013, Carney has signalled several times that rates were likely to rise, only for economic data to go the wrong way
Mon, Apr 30, 2018
Banks have pushed out their predictions for when the Bank of England will raise interest rates after data last week showed a sharp and unexpected slowdown in Britain`s economic growth.
Tue, Apr 24, 2018
Raghuram Rajan has been listed as one of the possible contenders for a top job at the Bank of England
Mon, Apr 16, 2018
The US economy continues to be supported by a synchronised global recovery, fiscal expansion, tax reform and the prospect of increased business investment, all supportive of growth. While the tit-for-tat tariffs excite market volatility, the recent North Korean preference for de-nuclearisation and talks helped reduce it
Wed, Dec 20, 2017
The Bank of England will allow European banks to continue selling their services in the United Kingdom without having to create expensive subsidiaries after Brexit, even if no divorce deal is struck between London and Brussels, the BBC reported.
Wed, Nov 29, 2017
The cryptocurrency has climbed 10-fold so far this year, the largest gain of all asset classes and prompting sceptics to warn it is a classic speculative bubble.
Thu, Sep 21, 2017
Spot gold was down 0.2% at $1,298.61 an ounce at 0054 GMT, after earlier dropping to lowest since late August at $1295.65.
Wed, Jul 19, 2017
"Globally, financial conditions tend to improve when the dollar is weak and vice versa," they added. "The falling dollar – still the globe`s major reserve and funding currency – tends to see risk appetite flourishing."
Wed, Mar 15, 2017
On global front, Asian equities opened slightly lower, as investors stayed cautious awaiting the outcome of several central bank meetings later on Wednesday, as reported by Reuters.
Japan`s benchmark Nikkei average opened down 0.52% while the broader Topix edged 0.41% lower.
Sat, Feb 25, 2017
"This is a strong core bank getting masked by all the sins of the past," Chief Executive Ross McEwan said on a conference call with reporters.
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