Bank Of England

Andrew Bailey has warned that inflation risks remain "on the upside" as he defended the Bank of England's reliance on the Treasury to cover losses generated by quantitative tightening. The Governor of the Bank of England told MPs on the Treasury Select Committee in an evidence session that the curre

Andrew Bailey has warned that populist political movements pose a "serious challenge" to the Bank of England's independence, cautioning that institutions seen to stand in the way of popular will risk being branded an "unrepresentative elite." The Governor of the Bank of England was speaking at the L

Interest rates will need to rise quickly to head off the threat of inflation, according to the Bank of England’s chief economist. Huw Pill told an audience in Edinburgh that there were “dangers” in waiting for firmer evidence of the impact of conflict in the Middle East, reports ou

Private non-financial corporations (PNFCs) raised almost no net finance in July, a sharp turn from June's £2.4bn of net repayments, according to a new report. Statistics released by the Bank of England's money and credit report showed that bank lending to businesses, including overdrafts, and

The Governor of the Bank of England Andrew Bailey has warned of a severe downturn in global stock markets if the AI bubble bursts. Mr Bailey sent a two-page letter to G20 finance ministers and central bank governors as part of his role as chair of the International Financial Stability Board (FSB), r

The Bank of England has been urged by economists to halt its bond-selling programme, arguing it is driving up the government's borrowing costs at the expense of taxpayers. A group of bond investors and analysts warned the bank's approach to unwinding quantitative easing is adding pressure to already

New estimates have revealed that the UK economy has failed to turn around its struggling labour market after nearly two years of job losses, despite a rebound in August. The Purchasing Managers' Index (PMI) by S&P Global suggested the UK's private sector grew at the fastest pace in four months i

Andy Burnham has suffered a major blow after economic heavyweights who were advising him ahead of the Makerfield by-election decided against joining his government following disagreements over potential wealth taxes. Former Goldman Sachs executive Lord Jim O'Neill was reported to have been in discus

Credit card defaults have climbed to their highest level since the global financial crisis, according to the latest Bank of England data, as households continue to face mounting financial pressures.

The Bank of England has left interest rates unchanged at 3.75%, with policymakers opting for caution as they assess the impact of recent energy market volatility and inflationary pressures. The Monetary Policy Committee voted 7-2 to keep Bank Rate on hold at its June meeting, although two members ba

Private non-financial corporations (PNFCs) borrowed a net £5.5 billion of finance in April, up from £3.7bn in March, according to The Bank of England's latest Money and Credit release. The bulk came through £4.4bn of bank loans and £1.0bn of net commercial paper issuance, par

The Bank of England (BoE) is minded to hold interest rates steady despite the inflationary pressures triggered by the Middle East conflict, as Governor Andrew Bailey confirmed that the withdrawal of anticipated rate cuts has already effectively tightened monetary policy. Speaking at the Reykjav&iacu

The Bank of England has begun a consultation on moving RTGS and CHAPS (the UK's high-value payment system) settlement hours towards near 24x7 operation.

The Financial Conduct Authority (FCA), Bank of England and HM Treasury have issued a joint warning that frontier artificial intelligence models now pose a materially heightened cyber threat to regulated firms, and have set out clear expectations on how the sector should respond. In a joint statement

UK financial firms can now move forward with tokenisation and distributed ledger technology (DLT) with greater confidence, following a joint announcement from the Financial Conduct Authority (FCA) and the Bank of England setting out a shared vision for the future of wholesale markets.