Tag: Andrew Bailey

• Friday, August 2nd 2024 - 11:57 UTC

  Bank of England cuts basic rate to 5% in divided vote; monetary policy will continue restrictive

  

  The Bank of England Monetary Policy Committee, MPC at its meeting ending on 31 July 2024, voted by a majority of 5–4 to reduce Bank Rate by 0.25 percentage points, to 5%. Four members preferred to maintain Bank Rate at 5.25%.

• Sunday, November 5th 2023 - 10:23 UTC

  UK economy on flat growth track, with decreasing inflation, BoE report

  

  The UK economy is on flat growth for a couple of years, while government forecasts of greater activity vanish, and the Bank of England could still rise interest rates further. In effect the BoE has warned rates will remain high for some time or even rise higher. Rate currently stands at 5,25%, the highest in fifteen years.

• Thursday, September 21st 2023 - 20:23 UTC

  In a tight vote, Bank of England leaves interest rates unchanged, still the highest for 15 years

  

  The United Kingdom interest rates were left unchanged after the Bank of England said price rises were slowing faster than expected. Interest rates were held at 5.25%, already their highest for 15 years, and comes after figures on Wednesday revealed an unexpected slowdown in inflation in August.

• Thursday, September 7th 2023 - 10:08 UTC

  Bank of England says interest rates are close to their peak, but could inch further

  

  Bank of England Governor Andrew Bailey has said interest rates are close to their peak, but that they may still have further to rise. He told MPs on Wednesday “we are much nearer now to the top of the cycle” of rate rises.

• Friday, June 23rd 2023 - 07:05 UTC

  Bank of England raises the base rate to 5% given a stubborn inflation of 8,7%

  

  The Bank of England, contrary to market expectations of a 25 basis points hike, on Thursday surprised with a 50 basis point hike to interest rates, its 13th consecutive increase as policymakers grapple with persistently high inflation.

• Thursday, January 6th 2022 - 07:55 UTC

  Bank of England answers, “Why can't we just print more money?”

  

  “Can’t we just print more money?” is a new pop-economics book, written by the Bank of England, which will be published this May in partnership with Cornerstone Press (Penguin Random House).

• Friday, April 10th 2020 - 14:50 UTC

  US Fed and Bank of England ramp up emergency responses to the escalating recession in unchartered waters

  

  The U.S. Federal Reserve and the Bank of England ramped up their emergency responses to the world's escalating coronavirus recession on Thursday as they pushed deeper into territory once considered fraught with risk for central bankers.