Page 6 - Bank Of England

UK inflation falls from 41-yr high to 10.7% in Nov giving relief to BoE

British inflation fell more sharply than expected in November to 10.7% from October's 41-year high of 11.1%, according to official consumer prices data

24 hours of jumbo interest-rate hikes to cap year of soaring inflation

More than 50 central banks have gone for 75-bp increases, with over 275 rate hikes this year

BoE holds meetings with foreign banks in India; keen to resolve CCIL logjam

European regulators' decision affects more market segments than US norms

UK firms expect to raise prices 6% in 12 months, see inflation lingering

Inflation pressures in the UK economy showed only limited signs of abating in November, with companies expecting to raise prices by 5.7% in the coming 12 months

ESMA deadlock: European regulator's interference unfortunate, says RBI DG

"Potential disruption to the forex markets can be serious"

Reserve Bank of India, Japanese regulator hold talks on clearing houses

Dialogue on clearing houses come after CCIL derecognition by ESMA, BoE

ESMA to derecognise CCIL: Banks, RBI discuss alternative clearing methods

Fresh clearing options came up in discussions with RBI, banks in touch with offshore regulators

UK economy shrinks, forecasters warn of many months of contraction to come

Britain's economy shrank in the three months to September, official statistics said on Friday, as forecasters warned of many months of contraction to come. The Office for National Statistics said gross domestic product fell by 0.2 per cent between July and September, a smaller-than-expected contraction that nevertheless is seen to signal the start of a long recession. GDP shrank by 0.6 per cent in September, and by 0.1 per cent in August, the statistics office said. It said a decline in manufacturing output and an extra holiday to mark the death of Queen Elizabeth II, which contributed to a notable fall in retail, were behind the decline. It said the UK economy is now 0.2 per cent smaller than in February 2020, just before the COVID-19 pandemic shut down big chunks of the economy for months. Britain's economy, like that of many other countries, is struggling as Russia's invasion of Ukraine has driven up food and energy costs, pushing consumer price inflation to 40-year highs. The

Bank of England's forecasts under fire from former UK rate-setters

Five former Bank of England rate setters have attacked their old employer for going soft on inflation despite hiking borrowing costs last Thurday to a 14-year high

Following Federal Reserve goes out of fashion in 'messier' world economy

Bank of England the latest to push back against hawkish bets; Fed seen as most aggressive, driving record gains for dollar

Bank of England warns of longest recession in 100 yrs after 3% rate hike

A 0.75 per cent increase, the latest in a series of eight interest rate rises since last year, would not be enough to guarantee victory in the war against double-digit inflation: Bank of England

Bank of England raises rates by most since 1989 even as recession looms

Central bank raises bank rate to 3% from 2.25%

Fighting inflation

Synchronised rate hikes by large central banks would increase financial stability risks

Bank of England makes biggest rate hike in 30 years to beat inflation

The Bank of England has announced its biggest interest rate increase in three decades as it tries to beat back stubbornly high inflation fuelled by Russia's invasion of Ukraine and the disastrous economic policies of former Prime Minister Liz Truss. The bank boosted its key rate by three-quarters of a percentage point Thursday, to 3%, after consumer price inflation returned to a 40-year high in September. The aggressive move to prevent inflation from becoming embedded in the economy was in line with market expectations after a more cautious half-point increase six weeks ago. The interest rate decision is the first since Truss' government announced 45 billion pounds ($52 billion) of unfunded tax cuts that sparked turmoil on financial markets, pushed up mortgage costs and forced Truss from office after just six weeks. Her successor, Rishi Sunak, has warned of spending cuts and tax increases as he seeks to undo the damage and show that Britain is committed to paying its bills. The ra

Dollar drops as optimism spreads before Fed and BoE decisions

The Fed is widely expected to raise its benchmark rate by 75 basis points (bps) on Wednesday, its fourth such increase in a row

Sensex rises for 3rd day, up 787 pts; Nifty tops 18K amid broad-based rally

CLOSING BELL: The Financial Services, IT, Pharma, Auto, and Consumer Durable indices gained over 1 per cent each, while others added up to 1 per cent

New UK PM Sunak faces dose of reality as economic, political woes mount

The new premier, Sunak's economic policy is set to face scrutiny as the Bank of England delivers what could be its biggest interest-rate hike in more than 30 years

Bank of England likely to go for a bigger than 75-bp rate hike: Report

Rising borrowing costs are part of a cost of living crisis hammering consumer spending as Sunak becomes Britain's third PM in less than two months

BoE says report of another delay of its bond sales is 'inaccurate'

Financial Times said the BoE was likely to push back the start of its quantitative tightening gilt sales from a scheduled date of Oct 31, having already delayed it from Oct 6

Pound falls after BoE chief rules out extending help to stabilise markets

The pound sank against the dollar early on Wednesday after the Bank of England governor confirmed the bank won't extend an emergency debt-buying plan introduced last month to stabilise financial markets. Andrew Bailey said the programme will end on Friday as scheduled. The pound fell by almost 1 per cent to just below USD 1.10 after Bailey spoke, before rallying slightly. After the government's September mini-budget the currency hit a record low of USD 1.03. My message to the (pension) funds involved you've got three days left now. You have got to get this done, he said. Part of the essence of a financial stability intervention is that it is clearly temporary. The central bank stepped in after the British government on September 23 announced plans for 45 billion pounds (USD 50 billion) in tax cuts without saying how it would pay for them. The announcement spooked financial markets and sent the pound plunging to a record low against the dollar. The Bank of England intervened to pr