Bank of England governor Mark Carney readies for grilling from newly formed Treasury Select Committee September 8, 2015 Bank of England boss Mark Carney will be among the first witnesses to appear before the newly-formed Treasury Select Committee tomorrow. Carney and other policymakers from the Old Lady will be quizzed about financial stability and the economic outlook for the UK. Conservative MP and committee chair Andrew Tyrie has said he will ask questions [...]
UK governemt and Bank of England are investing in a secret stash of fine art treasures worth billions September 4, 2015 While Brits have been tightening their purse strings since the credit crunch, an investigation by the TaxPayers’ Alliance has found that the government is putting those savings to good use – investing vast amounts of money in paintings and sculptures closed off to the public. The government currently owns £3.5bn in historic art, but according [...]
Bank of England interest rate rise threat sends first-time buyer sales to a pre-recession high August 28, 2015 The threat of a rise in borrowing costs led first-time buyers to look through increased deposit costs and indulge in a "summer of white-hot activity" with completed transactions hitting a pre-recession high. Monthly first-time buyer sales rose 4.9 per cent to 29,700 in the month to July, according to an index by estate agents Your Move and [...]
Bank of England governor Mark Carney’s interest rate rise comments prompted a flurry of house buying in July August 27, 2015 Bank of England governor Mark Carney's suggestion that the rate decision will "likely come into sharper relief around the turn of this year" has prompted a flurry of homebuying, new figures suggest. Demand for houses rose 4.1 per cent in the year to July, and 5.3 per cent in the last month alone, according to [...]
UK housing market: Remortgaging spurred on by Bank of England interest rate hike threat August 26, 2015 Remortgaging has surged as the prospect of an interest rate rise leads homeowners to lock in better deals. The number of people switching to lower rates was 29 per cent higher in July than in the some month last year, figures released yesterday by the British Bankers’ Association (BBA) showed. “Savvy homeowners are snapping up [...]
Andrew Tyrie asks Mark Carney to clarify Bank of England monetary policy committee conflict of interest rules August 25, 2015 The chairman of an influential parliamentary committee has asked Bank of England governor Mark Carney to reconsider rules surrounding membership of the Bank’s monetary policy committee (MPC). Andrew Tyrie, who chairs the Treasury Select Committee, wrote to Carney today about the appointment of Gertjan Vlieghe, a senior economist at the hedge fund Brevan Howard, to [...]
Over three quarters of UK households anticipate the Bank of England to increase interest rates in the next 12 months August 19, 2015 Over three quarters of UK households expect the Bank of England (BoE) to raise the interest rate in the next 12 months, according to the Markit Household Finance Index. The August survey indicated UK households are continuing to bring forward expectations regarding the next interest rate rise by the Bank of England. Read more: Super [...]
Outgoing BoE official says interest rates to rise “pretty soon” August 19, 2015 Outgoing Bank of England (BoE) rate-setter David Miles has said that the time for interest rates to rise from the record low is drawing closer. Speaking during an interview on BBC Newsnight Miles, who has already cast his final vote as member of the monetary policy committee (MPC), said that rates would rise "pretty soon", adding: "I don't think it's [...]
UK inflation: Business groups IoD and BCC split over when BoE should raise rates August 18, 2015 Two of Britain's biggest business groups have clashed over when the Bank of England (BoE) should raise interest rates, after today's inflation data. Official data released this morning showed inflation unexpectedly rose 0.1 per cent in the year to July. But this remains well below the BoE's target for two per cent. At the same [...]
Bank of England analysts believe Twitter could help predict a bank run, early signs of unemployment data and market movements August 18, 2015 Bank of England analysts believe Twitter and other social media give “much potential for central banks” to predict market movements, indicate unemployment data ahead of time and even give signs of an impending bank run. In the run-up to the Scottish independence referendum a team of analysts and IT experts within the BoE built [...]
