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United Kingdom

Bank of England raises key rate to highest level in 13 years

The Bank of England raised its key interest rate to the highest level in 13 years on Thursday.

United Kingdom

UK interest rate hike is 1st in a top economy amid pandemic

The Bank of England raised interest rates in the United Kingdom to combat surging consumer prices, becoming the first central bank among the world’s leading economies to do so since the COVID-19 pandemic began.

Money

The jury is still out on 'Britcoin,' says Bank of England chief

The Bank of England says 'stablecoin' payments need the same regulation as banks as it publishes a new discussion paper on digital currencies.

United Kingdom

UK economy to record best year since 1941, Bank of England says

The Bank of England said that its revised forecast — it previously estimated that the UK economy would grow by 5 per cent this year — was down to the country's fast vaccine rollout which should enable the economy to reopen quicker than initially thought.

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Money

Bank of England is looking into launching 'Britcoin'. But what is it?

What would the difference be between Britcoin cryptocurrency on your phone and sterling in your pocket?

United Kingdom

Bank of England cautiously upbeat on UK economy, banks and... Brexit

The BoE says the downturn from the pandemic may not be as bad as expected and banks have the capacity to deal with losses, but warns of high uncertainty.

United Kingdom

Andrew Bailey appointed first post-Brexit governor of Bank of England

The incoming Bank of England chief will come in just as the UK is departing the European Union.

Business

Bank of England cuts UK growth forecast

Brexit uncertainties are becoming "more entrenched" and increasingly weighing on the British economy less than three months before the country is scheduled to leave the European Union, the Bank of England said Thursday.

United Kingdom

Bank of England celebrates 'outstanding' Alan Turing on new £50 note

"As the father of computer science and artificial intelligence, as well as war hero, Alan Turing’s contributions were far-ranging and path-breaking. Turing is a giant on whose shoulders so many now stand,” the Bank of England's governor said on Monday.

United Kingdom

Banks face existential threat from climate change, central banks warn

Central banks chiefs have warned the financial firms if they fail to make changes to adapt to the risks of climate change, "they will fail to exist".

World News

Which British scientist should be the face of the new £50 note?

The Bank of England is asking the British public to nominate a scientist for a new plastic 50-pound note that will replace the current paper version.

Business

Bank of England governor issues Brexit warning

With less than eight months to go until Britain quits the European Union, the Governor of the Bank of England has issued a warning.

Business

A no-deal Brexit will have "big" economic consequences

That's according to the Bank of England Governor Mark Carney who says it'll prompt a review of interest rates and leave many bankers idle

Economy

Bank of England rejects EU's warnings

Britain's banks could deal with a hard Brexit next March if necessary. That's according to the Bank of England's Governor. Mark Carney rejects the European Union's warnings that lenders are inadequately prepared

Economy

UK growth revised down as slow production hits

According to official figures the UK economy expanded by less than previously thought in the last three months of 2017

Economy

Plans for UK interest rate hike

The Bank of England has revised its forecasts for the UK, saying that it now hoped that interest rates could rise faster than previously predicted

Economy

Bank of England keeps interests rates on hold

The Bank of England keeps interest rates on hold as real wages fall and consumers suffer biggest loss of spending power in 40 years.

Economy

UK inflation hits near six-year high

BoE will have to write to Chancellor after breaking through 2% target ceiling to reach 3.1% in November.

Economy

The Bank of England raises its interest rate to 0.5 pct from 0.25 pct, the first hike in 10 years

Bank of England raises interest rate to 0.5 per cent in the first hike in a decade

Economy

UK jobless rate stays at record low

Unemployment is at its lowest level for more than four decades but inflation threatens to rise