- Wednesday, 10 May 2017
- News
Sterling steady ahead of tomorrow's BoE rate decision
There are no major data relelases from the UK today, with Sterling being steady around 1.2930 area. Tomorrow, the BoE Monetary Policy Committee will announce its latest decision on interest rates as well as bond purchases and the quarterly inflation report. Bank Governor Carney is also scheduled to hold a press conference.
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- Tuesday, 21 February 2017
- News
Bank of England 'has improved' its economic forecasting
The Bank of England has made "big improvements" in its ability to forecast the UK economy, the Bank's chief economist has told MPs. Andy Haldane made his comment to the Treasury Select Committee. He acknowledged that "sizeable" economic forecasting errors had been made in the past, especially at the time of the 2008 financial crisis. He also said more forecasting errors were likely or possible, though not on the same scale as before.
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- Monday, 16 January 2017
- News
Bank of England ‘keeping close eye on UK consumer spending’
The Bank of England is keeping a close watch on consumer spending amid signs households are dipping into their savings and amassing debts to keep spending in the face of rising inflation. Mark Carney, the Bank governor, said consumer spending had held up since last summer’s vote to leave the EU but he reiterated a warning that living costs were likely to rise on the back of a weak pound and squeeze households’ real incomes.
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- Thursday, 15 December 2016
- News
BoE left interest rates unchanged
The Bank of England kept its key interest rate at a record low and noted that the pound’s recent appreciation may mean a slower pickup in inflation next year. In its last policy decision of 2016, the Monetary Policy Committee said sterling’s advance could mean “less of an overshoot” above its 2 percent goal than previously predicted. It still sees a pickup in price growth and repeated its line that it has limited tolerance for exceeding its target.
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