Page 3 - Bank Of England

ESMA in 'active' talks with RBI to resolve Clearing Corporation impasse

After the global financial crisis of 2008, the European Union in 2012 had adopted new market infrastructure regulations in order to strengthen and safeguard systems

RBI, Bank of England strengthen ties; ink agreement to end CCIL logjam

Move comes as a relief to UK-based banks such as Standard Chartered and HSBC

RBI, Bank of England sign agreement to exchange information on CCIL

The MoU also demonstrates the importance of cross-border cooperation to facilitate international clearing activities and the BoE's commitment to deference to other regulators' regimes

BoE keeps main UK interest rate unchanged at 15-year high of 5.25%

The Bank of England has kept its main interest rate unchanged at the 15-year high of 5.25 per cent, as inflation across the UK is expected to fall further over the coming months. In a statement on Thursday, the bank's nine-member Monetary Policy Committee indicated that inflation, as measured by the consumer price index, is set to fall toward a 2 per cent target rate over the coming year. In the year to September, inflation stood at 6.7 per cent. Most economists expect a sizable decline over coming months as domestic energy bills fall. The bank in September ended a nearly two-year run of interest rate rises.

FTSE 100 closes 0.9% lower, logs weekly loss as lacklustre results weigh

The banks index shed 2.3% and ended the week 5.4% lower.

UK blames GenZ, Millennial's busy lifestyle for upending labour data

The trend forced the ONS to scrap its usual data on employment and unemployment on Tuesday

Expect status quo on rate and no change in stance

As the festival season approaches, followed by elections, state and national, there will be pressure on liquidity since cash with the public will rise

Bank of England halts run of interest rate hikes as economy slows

It cut its forecast for economic growth in the July-September period to just 0.1% from August's forecast of 0.4% and noted clear signs of weakness in the housing market

UK inflation in surprise fall in Aug, though BoE still set to raise rates

Inflation in Britain fell unexpectedly in August to its lowest level since the start of Russia's invasion of Ukraine, which led to sharp rises in energy and food costs. The Office for National Statistics said Wednesday that inflation, as measured by the consumer prices index was 6.7 per cent in August this year, down from 6.8 per cent in July. The decline took inflation to its lowest level since February 2022. It said that lower hotel and air fare costs and a moderation in food price rises helped offset an increase in energy prices on the back of higher crude oil prices. The decline was unexpected. Most analysts had expected an increase to around 7 per cent. Though the surprise decline was encouraging, inflation remains way above the Bank of England's target rate of 2 per cent and most economists think it will raise its main borrowing rate once again on Thursday by a quarter of a percentage point to a near 16-year high of 5.5 per cent. Like other central banks around the world, th

British businesses plan lowest price rises since February 2022: BoE

Businesses surveyed in the three months to August expected to raise prices by 4.9% over the coming year, the smallest percentage since February 2022 when Russia invaded Ukraine

Bank of England is 'much nearer' to peak interest rates, Bailey says

The BoE has raised rates at each of its last 14 meetings as it grappled with the highest inflation among the world's big, rich economies

Bloomberg LP names product head Vlad Kliatchko as new CEO: Report

JP Zammitt will become president and Patti Roskill will be the chief financial officer, the memo said, adding that the company will form a new board

UK wages grow at a record pace, fuelling Bank of England's inflation worry

The figures are the first of two batches of economic data that will guide the BOE's next rate decision on September 21

Bank Of England expects delayed payments to be settled today after hitch

"The issue has been resolved and all CHAPS payments submitted to the bank are settling normally," the BOE said in a statement

UK heads for 5-yr of lost economic growth as goal to 'level up' fails

The forecasts echo the Bank of England's gloom, which said last week that GDP would remain below pre-pandemic levels "in the medium term"

Bank of England raises interest rate to new 15-year high to fight inflation

The Bank of England raised its main interest rate on Thursday to a fresh 15-year high as it tries to bring down persistently high inflation. The quarter-percentage point increase to 5.25 per cent, which was widely anticipated by economists, was the central bank's 14th hike in a row. There had been fears, certainly among hard-pressed households and businesses, that the bank would repeat its outsized half-point increase from June. But figures last month showing that inflation fell more than anticipated to 7.9 per cent eased the pressure to act as aggressively again. With inflation four times the bank's 2 per cent target, the bank is expected to raise interest rates again over the coming months. Economists said the interest rate outlook will depend largely on how fast inflation comes down. Higher interest rates help dampen inflation but also economic growth by making it more expensive for consumers and businesses to borrow to buy homes, cars or equipment.

BoE set to join Fed in raising interest rates again amid high UK inflation

The Bank of England is set to raise interest rates Thursday for the 14th time in a row to a fresh 15-year high and keep the door open for further increases in the months to come as it tries to tamp down persistently high inflation. Most economists think the UK central bank will increase its benchmark rate by a quarter of a percentage point, to 5.25 per cent. There had been fears, certainly among hard-pressed households and businesses, that the bank would repeat its outsized half-point increase from June. But figures last month showing that inflation fell more than anticipated to 7.9 per cent eased the pressure to act as aggressively again. With inflation still four times the 2 per cent target, the Bank of England has little choice but to raise the bank rate again and leave the door open to further hikes in upcoming meetings, said Kallum Pickering, senior economist at Berenberg Bank. Though the US Federal Reserve and the European Central Bank raised rates last week, they are thought

UK inflation slows sharply, offering some relief to Bank of England

Bank Rate peaking at 6% is no longer fully priced, which had been the case on Tuesday

UK banks resilient to support struggling households: Bank of England

The Bank of England warned Wednesday that UK households are facing mounting financial difficulties from the sharp increase in interest rates but expressed hope that the country's biggest banks are resilient enough to offer more help than they could before the global financial crisis 15 years ago. In its half-yearly financial assessment, the central bank said British households are facing higher debt burdens because of rising interest rates, particularly people whose fixed-rate mortgage deals have come to an end or soon will. However, the Bank of England said several factors should limit the number of people who default on their mortgages. It noted, for example, that UK banks have more capital and are carrying far less debt than they did 15 years ago, allowing them to offer struggling households more financial options. That includes permitting borrowers to vary the terms of their loans. The average household also is carrying less debt than then during the financial crisis, the centra

UK banks resilient enough to offer struggling households support, BoE says

The Bank of England warned Wednesday that households across the UK are facing increasing problems from the sharp increase in interest rates but found that the country's biggest banks are resilient enough to offer more help than they were able to before the global financial crisis 15 years ago. In its regular health check of the economy, the central bank said British households are facing higher debt burdens as a result of rising interest rates, particularly those whose fixed-rate mortgage deals have come to an end or soon will be. However, it said there are several factors that should limit the number of people who have to default on their mortgages. It noted, for example, that the country's banks have more capital than they did 15 years ago to allow them to offer struggling households more financial options such as allowing borrowers to vary the terms of their loans. The bank lifted its main interest rate by half a percentage point to a 15-year high of 5% last month and warned of .