Bank of England in the City of London on 6th November 2024 in London, United Kingdom. The City of London is a city, ceremonial county and local government district that contains the primary central business district CBD of London. The City of London is widely referred to simply as the City is also colloquially known … Read more
Bank of England Governor Andrew Bailey hit back against former U.K. Prime Minister Liz Truss, saying her downfall was caused by her decisions and those of her team, rather than any “deep state” conspiracy. “I don’t know what she means by that,” Bailey told the Guardian in an interview published on Thursday. “I’ll say this … Read more
“Today’s cut will be welcome news for millions of homeowners and shows that Labour inherited a stronger economy which was on the right track,” crowed Shadow Chancellor Jeremy Hunt, attacking Reeves for agreeing to new public sector pay rises. “In government, we took difficult decisions that cut inflation from 11.1 per cent to the Bank’s … Read more
Without the governor’s cooperation, any prospective government would need to change the Bank’s formal remit to enact the policy. Reform’s BoE interventions don’t stop there though. As a result of its quantitative tightening policy, the Bank is currently selling large numbers of assets at a loss. Reform would rather if the Bank waited for them … Read more
Ahead of the upcoming general election in July, the nation will be scrutinising the economic strategies of both the Conservatives and the Labour Party. Presently, the economic outlook is improving, with the 12-month CPI inflation falling to 3.2% in March and 2.3% in April. Given the bleak poll ratings for the Conservatives, the government is … Read more
Excerpts were released over the weekend and include a scathing view of Britain’s financial establishment. She describes the Treasury, the Bank of England and the Office for Budget Responsibility (OBR) as a “three-headed hydra” that “wanted to stick as closely to EU law as possible.” But the now-backbench MP went further in the interview, saying … Read more
The exterior of the Bank of England in the City of London, United Kingdom. Mike Kemp | In Pictures | Getty Images LONDON — The Bank of England on Friday announced a “once in a generation” overhaul of its inflation forecasting following a long-awaited review by former Federal Reserve Chair Ben Bernanke. The review — initiated after criticism of … Read more
Though some analysts expect the recession to be temporary, the figures deal a blow to efforts by Prime Minister Rishi Sunak to paint a rosier picture of the economy in what is expected to be an election year. On Tuesday, Sunak told business executives that the U.K. economy had “turned a corner” and was being … Read more
Consumer prices in the United Kingdom stood at 4 percent in January, unchanged from December and defying expectations of a renewed pick-up, data released by the Office for National Statistics showed Wednesday. Analysts polled by Reuters ahead of the release had projected inflation to accelerate to 4.2 percent at the start of the year. Core … Read more
