Bank of England
central bank of the United Kingdom
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01.07.2024Labour Party wins the general election
01.07.2024Labour Party wins the general election
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society 2025-07-02 15:44
Bank of England invites public to define next banknote themes - The Bank of England has initiated a public consultation on themes for its next series of banknotes.
- Citizens can suggest themes such as historical figures, architecture, culture, and nature until July 31, 2025.
- The consultation aims to reflect UK national identity while considering shifting perspectives on currency design.
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business 2025-06-26 16:55
Companies cut jobs and wages due to national insurance rise - Andrew Bailey mentioned the response of companies to increased payroll tax liabilities.
- Cuts in employment and wages are being observed as businesses strive to manage rising costs.
- These trends could have significant negative impacts on the UK economy and its labor market.
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business 2025-06-24 11:51
NS&I slashes Premium Bonds prize fund rate amid interest rate concerns - NS&I is reducing the Premium Bonds prize fund rate from 3.80% to 3.60% starting in August 2025.
- The estimated number of large prizes is set to decrease, while the number of lower-value prizes will increase.
- This change reflects ongoing adjustments in the savings landscape and raises questions about future trends in prize fund rates.
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business 2025-06-19 18:15
Bank of England keeps interest rate unchanged amid inflation concerns - Inflation in the UK has recently decreased to 3.4% in May from 3.5% in April.
- The Bank of England is anticipated to hold interest rates at 4.25% due to ongoing economic uncertainties.
- Experts agree that current inflation levels are above the Bank's target, indicating no immediate likelihood of rate cuts.
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business 2025-06-18 07:52
Analysts predict two interest rate cuts by end of 2025 - The Bank of England's Monetary Policy Committee is expected to hold the interest rate at 4.25% in their next meeting.
- Many analysts project at least two interest rate cuts by the end of 2025.
- Uncertainties such as inflation rates and labor market conditions influence monetary policy decisions.
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business 2025-06-17 11:30
Rising oil prices urge caution from Bank of England due to Middle East conflict - Oil prices have increased significantly due to ongoing conflict between Israel and Iran.
- This development raises concerns regarding global economic stability, prompting a cautious response from financial authorities.
- The Times shadow Monetary Policy Committee suggests that the Bank of England should maintain current interest rates to manage these challenges.
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business 2025-06-16 10:00
Savings rates hit two-year low despite record product choice - Savers have access to the highest number of savings deals since records began, with a total of 2,235 products available.
- Average savings rates, including easy access and fixed terms, have fallen to their lowest levels since mid-2023 due to recent Bank of England rate cuts.
- The increases in product offerings may not benefit savers in the short term due to declining interest rates against rising living costs.
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business 2025-06-10 16:35
High loan-to-value mortgages hit highest levels since 2008 - The Bank of England has relaxed its affordability guidance, impacting mortgage lending rules.
- More homeowners are now taking loans that exceed 90 percent of a property's value.
- This situation reflects ongoing measures to support first-time buyers but raises concerns regarding long-term financial stability.
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business 2025-06-03 16:30
Andrew Bailey questions pace of interest rate cuts amid uncertainty - Andrew Bailey addressed the Treasury select committee regarding economic challenges in the UK.
- He highlighted the significant uncertainty surrounding interest rates and their future direction.
- Bailey's remarks suggest a cautious approach by the Bank of England in adjusting interest rates.
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business 2025-05-21 04:21
Bank of England cuts interest rates amid rising inflation concerns - The Bank of England estimated inflation to rise to 3.7% between July and September.
- Households report increasing costs of goods and services despite a decrease in reported inflation.
- The situation highlights ongoing economic challenges and the need for adaptive financial strategies.
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business 2025-05-08 06:01
Bank of England prepares to cut interest rates amid economic uncertainty - The Bank of England is anticipated to announce a reduction in the main interest rate from 4.5% to 4.25% today.
- This decision follows ongoing economic uncertainty linked to U.S. tariffs impacting trade.
- The rate cut aims to stimulate economic growth despite rising inflation levels.
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business 2025-04-10 18:40
Bank of England delays bond auction amid market turmoil - The Bank of England has canceled its planned auction of long-dated government bonds worth £600 million due to recent market volatility.
- The decision to postpone reflects concerns over President Trump's tariff policies, which have created uncertainty in the markets.
- In response, the central bank will instead conduct a sale of £750 million in short-dated bonds, indicating a shift in their approach during this tumultuous period.
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business 2025-04-09 19:05
Hedge funds risk collapse as market volatility surges due to Trump's trade policies - Hedge funds face significant margin calls due to increasing market volatility.
- The Bank of England warns that heightened uncertainty may lead to adverse market events.
- Consequently, risks associated with hedge fund leverage could destabilize the financial system.
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technology 2025-04-09 18:25
AI-driven trading strategies risk amplifying financial market shocks, warns Bank of England - The Bank of England's financial policy committee released a report on potential risks of AI in trading.
- Traders using similar AI strategies may amplify financial shocks through coordinated actions.
- The growing trend of AI-based trading requires careful oversight to ensure market stability.
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business 2025-04-09 11:37
Rachel Reeves aims to secure a crucial trade deal with the US - Donald Trump's tariffs have imposed a 10% tax on all UK exports to the US, affecting businesses and families.
- Rachel Reeves is actively pursuing trade agreements to mitigate the financial impacts of these tariffs.
- The UK government remains committed to maintaining fiscal stability despite pressures to adapt its financial rules.
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business 2025-04-09 05:00
Cheaper mortgages expected as tariffs shake up financial markets - Experts believe interest rates in the UK may drop following the repercussions of US tariffs.
- Financial turbulence caused by the tariffs has led to expectations for cheaper mortgages as rates are anticipated to fall.
- Lower rates could provide financial relief to borrowers, despite potential inflation risks from other economic factors.
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business 2025-04-08 23:01
Bank of England urged to cut interest rates amid market turmoil - Charlie Bean, former deputy governor of the Bank of England, advocates for cutting interest rates to support borrowers.
- The Bank of England is actively assessing liquidity and financial stability amid recent market upheavals.
- With potential rate cuts on the horizon, relief may soon be available for both homeowners and small businesses.
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politics 2025-04-08 11:33
Liz Truss blames Mark Carney for economic meltdown during her premiership - Former UK Prime Minister Liz Truss criticized Mark Carney, claiming he created the economic issues during her government.
- She accused Carney of failing in regulatory responsibilities during his tenure as the Bank of England governor.
- Truss urged Canadian voters to reconsider their leadership as economic policies come under scrutiny.
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business 2025-04-07 21:05
Lenders brace for mortgage rate cuts as market turmoil intensifies - Expectations are mounting that the Bank of England will cut base rates to avoid an economic downturn.
- Major banks are anticipated to lower fixed mortgage rates due to significant turmoil in stock markets.
- The forthcoming mortgage rate cuts may impact over 1.34 million homeowners transitioning off their deals this year.
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politics 2025-04-07 17:29
UK statistics body demands improvements amid trust crisis - The UK statistics authority has mandated urgent changes to enhance the reliability of data from the Office for National Statistics.
- This order comes after notable quality declines in key figures following the Covid-19 pandemic.
- Trust in economic data is crucial for effective decision-making by policymakers and the Bank of England.
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business 2025-03-28 20:12
UK inflation drops to 2.8% ahead of key statement - UK's inflation rate decreased to 2.8% in February 2025, below January's 3% rate.
- The drop in inflation was primarily driven by a reduction in clothing prices.
- This significant decline may lead to cautious reassessments of interest rates but reflects ongoing economic challenges.
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business 2025-03-26 17:23
Bank of England maintains interest rates amidst falling inflation - UK inflation decreased to 2.8 percent in February 2025, down from 3.0 percent in January.
- Despite the drop in inflation, the Bank of England maintained the interest rate at 4.5 percent due to concerns about future inflation rises.
- Experts suggest that the optimism surrounding rate cuts may be misplaced given the broader economic conditions.
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business 2025-03-20 15:29
Bank of England keeps interest rates unchanged amid US tariff concerns - The Bank of England's Monetary Policy Committee has decided to keep the interest rates unchanged at 4.5%.
- This decision is influenced by global economic developments and the impact of new US tariffs.
- Experts predict potential future rate cuts, but the economic environment remains uncertain.
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politics 2025-03-20 11:32
Bank of England expresses caution over inflation and weak economy - The Bank of England held interest rates at 4.5% due to rising economic uncertainty.
- Concerns are growing over inflation, which is expected to rise to 3.7% this year.
- Policymakers are cautiously navigating the economic landscape while prioritizing inflation control.
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business 2025-03-14 11:57
Bank of England faces divisions over interest rate decisions - The monetary policy committee at the Bank of England is now characterized by a variety of viewpoints on inflation drivers.
- In the wake of criticism regarding its response to inflation that rose in late 2021, the committee is more democratic in its discussions.
- These diverse opinions on interest rates may lead to more efficient policy-making aligned with current economic conditions.
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society 2025-03-07 19:25
Jes Staley misled watchdog regarding Epstein connection - Andrew Bailey testified at a London tribunal, indicating that Jes Staley had a close relationship with Jeffrey Epstein.
- The FCA fined Staley more than £1.8 million for misleading regulators about his ties to Epstein.
- The investigation raises ethical concerns about personal connections influencing professional accountability in the financial sector.
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business 2025-03-04 00:01
Shop price inflation decreases as retailers offer discounts - In February 2025, shop prices in the UK contracted by 0.7 percent, remaining the same as January.
- This decline was largely influenced by discounts offered by fashion retailers, challenging previous industry predictions.
- The data will inform the Bank of England's upcoming monetary policy decisions regarding interest rates.
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business 2025-02-21 21:29
UK inflation soars to 3%, raising concerns over economic growth - Inflation in the UK rose to 3% in January 2025 from 2.5% the previous month, surpassing analysts' expectations.
- The increase was driven by rising prices in airfares, food, and the impact of new VAT rules on private school fees.
- The rise in inflation raises concerns about the Bank of England's ability to lower interest rates amid weak economic growth.
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politics 2025-02-18 10:01
Rachel Reeves faces backlash over false journal publication claims - Rachel Reeves's Who's Who entry inaccurately states she contributed to a prestigious journal.
- The error raises questions about the history of her CV and her qualifications.
- The chancellor is currently under pressure from allegations of exaggeration and misuse of expenses.
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politics 2025-02-14 19:27
Rachel Reeves investigated for excessive expenses at banking job - An internal investigation was initiated due to a whistleblower's complaint regarding Rachel Reeves' expense use while at HBOS.
- Specific allegations included extravagant spending on gifts, meals, and events funded through corporate accounts.
- The scrutiny surrounding her expenses and CV claims raises questions about her credibility and suitability for leadership roles.
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business 2025-02-14 10:58
U.S. banks panic as they fly gold from London to New York amid trade war fears - Over the past few months, around 8,000 gold bars have been shipped from the Bank of England to New York City.
- Banks are capitalizing on a price disparity between New York futures markets and London cash prices.
- This gold movement reflects the banking sector's response to fears about a global trade war and U.S. tariffs.
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business 2025-02-12 17:41
UK economy set for unexpected growth amid budget reforms - The National Institute of Economic and Social Research projects that the UK will grow at twice the rate expected by the Bank of England.
- This growth is attributed to an increase in public spending and planned government investments.
- However, living standards will not recover from losses incurred between 2022 and 2024 until 2027.
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2023 All rights reserved