Displaying items by tag: boe

Thursday, 14 July 2016

News

BoE unexpectedly left interest rates unchanged

The Bank of England kept interest rates unchanged on Thursday, wrong-footing many investors who had expected the first cut in more than seven years as Britain's economy reels from last month's Brexit vote. The Bank said it was likely to deliver stimulus in three weeks' time, possibly as a "package of measures" once it has assessed how the June 23 referendum decision to leave the European Union has affected the economy.

Carney indicates more stimulus after Brexit

Bank of England Governor Mark Carney said on Tuesday that a hit to Britain's economy from last month's decision by voters to leave the European Union could prompt the Bank to act, hinting again that more stimulus is on the way. "If the outlook has worsened, to use that term, in the judgment of the MPC there always could be monetary response if that is consistent with its remit," Carney told lawmakers. Read more...

Tuesday, 05 July 2016

News

BoE lowered amount of capital banks must hold in reserve

The Bank of England took steps on Tuesday to ensure British banks keep lending as the financial consequences of the country's decision to leave the European Union began to materialize, especially in commercial real estate. The BoE, which is trying to cushion the economy from the June 23 referendum result, said it would lower the amount of capital banks must hold in reserve, freeing up an extra 150 billion pounds ($196 billion) for lending. Read more...

Thursday, 16 June 2016

News

BoE left interest rates unchanged

Minutes from the Bank of England’s (BoE) policy meeting revealed on Thursday that all nine members of the Monetary Policy Committee (MPC) were in favor of leaving the key interest rate at a record low of 0.5%, while the central bank also warned of further economic damage if the country decided to leave the European Union (EU), known as a Brexit, in the June 23 referendum.The BoE said it was holding the benchmark interest rate at 0.50%, in a widely expected move. The rate has been held at that record-low level since March 2009.

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BoE unexpectedly left interest rates unchanged

Carney indicates more stimulus after Brexit