Bank of England (BoE)
BoE holds rates, aids markets
The Bank of England voted on Thursday to keep the base rate at 5.75% after offering the previous day to inject extra funds into the money markets next week if liquidity problems persist.
Credit crunch has "sown seeds of downturn"
Jon Moulton, a well-known private equity investor, said that the credit crunch had " sown the seeds of a major downturn," the Financial Times reported.
Cost of UK borrowing hits ten-year high
Banks borrowing sterling over a three-month period yesterday found the cost at a near-ten-year high as the major UK financial institutions sought medium-term funding to help them survive the financial volatility in the credit markets.
Barclays revealed as BofE borrower
Barclays, a commercial bank, said Thursday that it was the bank that borrowed £1.6 billion ($3.2 billion) from the Bank of England's standing facility.
BofE lends £1.6 billion from standing facility
The Bank of England said that a commercial bank borrowed £1.6 billion on Wednesday through the Bank's standing facility, which charges 100 basis points more than the base rate.
Bank of England joins the fray with emergency loan
In what represents its first unusual market intervention during the current spell of market volatility, the Bank of England lent £314 million ($622 million) today to an unnamed financial institution through its standing facility.
BoE's MPC all agreed to hold rates
Minutes of this month's meeting at the Bank of England revealed all nine members of the monetary policy committee were in favour of this month's rate hold.
Useful statement from Jean-Claude Trichet
CentralbankNews.com is pleased to see the ECB making constructive use of its website in the current crisis. On Tuesday August 14 its home page featured prominently a statement by Jean-Claude Trichet, the president, about the current financial market…
ECB injects a further €47.7 billion
After adding €155.9 billion ($212 billion) to money markets late last week, European Central Bank (ECB) lent heavily again on Monday.
BoE inflation report suggests rate hike
The Bank of England looks set to raise rates to 6%, after its August inflation report, released on 8 August, indicated that further hikes were needed to bring inflation down towards the 2% target.
Bank of England leaves rates unchanged
The Bank of England today announced that it would leave its benchmark interest rate at 5.75%. The decision to hold rates steady was widely expected, though most economists expect rates to rise to 6% before the end of this year.
Gieve warns of losing inflation battle
John Gieve, a deputy governor at the Bank of England, has warned that the Monetary Policy Committee (MPC) could lose the battle against inflation if it took a more gradual approach to raising interest rates.
BoE minutes show rate rise split
The Bank of England's Monetary Policy Committee (MPC) voted 6 to 3 to raise interest rates this month, according to the minutes of the July meeting published today. Kate Barker and Paul Tucker voted with the governor, Mervyn King, in favour of a rise of…
BoE's Sentance on monetary policy and business
Andrew Sentence, an external member of the Bank of England's Monetary Policy Committee (MPC) said on 10 July that the benefits to businesses from sound monetary policy "lie not in a temporary respite from higher interest rates, but in achieving a…
Gieve says more to be done to hit inflation target
For the second time in as many weeks, John Gieve, the deputy governor of the Bank of England, has suggested that the central bank's Monetary Policy Committee (MPC) has not done enough to bring inflation back to its 2% target.
BoE's Blanchflower on self-employment
In a speech delivered in Berlin, David Blanchflower said, "in comparison with employees the self-employed are more likely to be male; immigrants; work in construction or financial activities; hold an apprenticeship; work in London; work long hours; have…
New non-executive directors for Bank of England
Roger Carr and Susan Rice have been appointed as non-executive directors of the Bank of England, replacing Sir Graham Hall and Mary Francis.
Pension overhaul at the Bank of England
The Bank of England has traditionally had a generous final salary pension scheme, but it is now reported that it intends to close the scheme and raise the retirement age of new staff from 60 to 65.
BoE's Gieve: London's City will prosper
Sir John Gieve, a deputy governor of the Bank of England, discussed London's growth as an international financial centre, its effect on financial innovation and the impact of growth in money and credit for the UK economy.
Bank of England losing economists to the City
The annual report of the Bank of England, published on 25 June, acknowledged concerns about the departure of some of the central bank's economists, seduced away from Threadneedle Street by the promise of higher pay in the financial service sector.
King outvoted over rates increase again
The Monetary Policy Committee (MPC) of the Bank of England narrowly defeated governor Mervyn King at their policy meeting in June, voting 5-4 to keep the rate unchanged at 5.5%. This was the second time that the governor was on the losing end of an MPC…
The political economy of the MPC - Tucker
In this keynote address to a conference on "Inflation Targeting, Central Bank Independence and Transparency" at the University of Cambridge, Paul Tucker, a member of the Bank of England's Monetary Policy Committee (MPC), discusses the political economy…
Brown promises transparency on MPC appointments
Gordon Brown, Britain's Prime Minister designate, has vowed to make the process of appointing the Bank of England's Monetary Policy Committee members more transparent, including an open invitation to candidates.
Conservatives want one-term limit for BoE governor
Britain's opposition Conservative Party is considering a one-term limit for the governor of the Bank of England, a policy that would mark the biggest change in the framework for monetary policy since the bank was made independent in 1997.