Libor case: Senior Bank of England official “The Hammer” received emails from Tom Hayes’ brokers May 27, 2015 A senior Bank of England official nicknamed “the Hammer” was sent emails that were part of an alleged campaign to rig the benchmark interest rates, a London court heard today. Martin Mallett, who at the time was chief currencies dealear at the BoE, was among dozens of people who received an email in 2007 [...]
Bank of England offical Martin Taylor: Regulation will not drive big lenders out of the UK May 26, 2015 The Bank of England will not back down on tough regulation, top official and ex-Barclays boss Martin Taylor said in a speech published yesterday, dismissing threats from banks like HSBC that they could leave the UK for more welcoming shores. Some in the industry have started to argue that banks are now safe, and [...]
Email slip-up reveals Bank of England’s investigation into what would happen if UK left the EU May 23, 2015 The Bank of England is carrying out a confidential investigation into what would happen if the UK left the European Union (EU), an email accidentally sent to The Guardian has revealed. It discloses details of a special task force set up by the central bank to look into the economic consequences of a UK exit, [...]
Co-op Bank says it is on track to meet Bank of England targets May 20, 2015 The Co-operative Bank said in a first-quarter trading statement yesterday that its turnaround plan is on track. The bank is undergoing changes to de-risk its balance sheet and meet revised deleveraging targets as set by regulators after the Bank of England stress tests last year. The bank completed a £1.5bn residential mortgage securitisation earlier this [...]
Bank of England minutes: Policymakers vote 9-0 to keep rates on hold May 20, 2015 Minutes from the Bank of England's May meeting have shown little change, with the monetary policy committee again voting 9-0 to keep interest rates at 0.5 per cent. Two members felt the decision was "finely balanced", implying they're thinking about reversing their vote. All members agreed interest rates "were more likely than not" to rise over the [...]
As the Bank of England calls for ideas, these are the artists who could feature on the new £20 note (spoiler: it’s unlikely to be a woman) May 19, 2015 The Bank of England today put out a call for ideas as to who could feature on its next £20 note. The Bank said the note will "celebrate Britain's achievements in the visual arts" – and asked for the public's ideas as to who should feature. Mark Carney, the Bank's governor, said the note could [...]
Bank of England’s Andrew Bailey says HSBC right to eye move abroad May 15, 2015 A Bank of England official has said that HSBC, the country's biggest bank, is right to eye a move abroad. "We will obviously be in close contact with them because there are important issues for us," Andrew Bailey, chief executive of the Bank of England's prudential regulation authority, said. "It is entirely natural that as [...]
A tale of two economies: Why the Bank of England risks a sharp hike in interest rates May 13, 2015 We were offered two conflicting views of the UK economy yesterday, from the monthly Labour Market Statistics and the Bank of England’s quarterly Inflation Report. The Labour Market Statistics presented a picture of a booming economy and accelerating wage inflation. Unemployment has fallen by about 400,000 over the past year and the jobless rate [...]
Five key numbers from the Bank of England’s quarterly inflation report May 13, 2015 The Bank of England's quarterly inflation report, setting out its forecasts for economic growth and inflation, was published today offering the first insight into officials' thinking since they entered election purdah six weeks ago. Here are five key figures from the report: 1. Gross domestic product growth – 2.5 per cent: The Bank of England has [...]
Bank of England inflation report: UK growth expectations cut May 13, 2015 The Bank of England today slashed forecasts for how much its expects the economy will grow this year to 2.5 per cent, down from 2.9 per cent. Threadneedle Street also said it expects interest rates to remain close to historical lows for the foreseeable future, before rising some time in the second quarter of 2016. [...]
