Bank Of England

Andrew Bailey, the governor of the Bank of England (BoE), has said that the UK economy is set to return to pre-pandemic levels by the end of this year. This morning, Mr Bailey said that a recent rise in interest rates in financial markets was consistent with an improvement in the economic outlook.

Perth-based insurance giant Aviva has launched a new cash savings platform as UK savings soar during the coronavirus pandemic. The Bank of England’s (BoE) Monetary Policy Report in February 2021 showed that “households have accumulated an excess stock of savings of £125 b

A Bank of England (BoE) official has warned that up to half of the £45 billion in loans issued to UK businesses under the bounce back loan scheme could go bad. Sam Woods, chief executive of the Prudential Regulation Authority (PRA), warned that UK taxpayers faced a 'significant loss' from the

The Bank of England (BoE) has held off from more stimulus for the UK economy, keeping the interest rate at 0.1%. At the February Monetary Policy Committee (MPC) meeting yesterday, the BoE observed that the UK economy had performed much better than had been expected in Q4 2020 when it likely grew aro

British households repaid the most money borrowed on credit cards and loans in 2020 since records began despite the economic uncertainty caused by the coronavirus pandemic.

The Bank of England has reported that mortgage approvals for house purchases edged back slightly to 103,381 in December from 105,324 in November, which was the highest level since August 2007.

Mortgage approvals reached a 13-year high in November, according to figures released by the Bank of England.

The Bank of England (BoE) has been asked to find out who is in possession of £50 billion of missing sterling banknotes. The number of notes in circulation reached a record high of 4.4bn in July this year with a face value of £76.5bn. Of that amount, the BoE estimates that as much as 24%

The Bank of England (BoE) has reported that mortgage approvals for house purchases extended their recent buoyancy in October, climbing to 97,532 marking the highest rate since August 2007.

The risk of catching COVID-19 from banknotes is 'low', according to new research from the Bank of England. The bank's research tested a 'worst case' scenario of an infected person coughing or sneezing directly on to banknotes made of both paper and plastic.

A no-deal Brexit would cause more long-term damage to the economy COVID-19, according to Andrew Bailey, governor of the Bank of England. Mr Bailey said that he was relatively optimistic about the economy’s ability to recover from the coronavirus pandemic, but he warned that it would be more di

The Treasury, the Bank of England and the Financial Conduct Authority (FCA) will be convening an industry working group to facilitate investment in productive finance. Investment in productive finance refers to investment that expands productive capacity, furthers sustainable growth and can make an

The Bank of England (BoE) is to inject an extra £150 billion into the UK economy amid concerns that the second wave of COVID-19 would lead to a slower recovery.   It is expected that tighter lockdown restrictions in England will force the UK into another downturn. 

Mortgage approvals reached a thirteen-year high of 91,454 in September, according to new data from the Bank of England.

HSBC has indicated that it could charge for some current accounts as the banking industry anticipates the introduction of negative interest rates.  Yesterday, the bank said it was assessing whether to charge for basic banking services in some countries.