Page 8 - Bank Of England

Bank of England unveils 50 bps hike as three officials push for bigger move

Traders pared bets on future interest-rate increases and the pound pared its gain against the dollar. It was up 0.6% to $1.1340 as of 12:04 p.m. London time

Bank of England poised for another big interest rate hike amid inflation

Britain's central bank is under pressure make another big interest rate hike Thursday, with inflation outpacing other major economies but the U.S. Federal Reserve and other banks acting more aggressively to get prices under control. The Bank of England hiked its benchmark rate last month by half a percentage point to 1.75%, the biggest increase in 27 years, and it's expected to at least match that in its latest decision, which was delayed a week during the mourning period for Queen Elizabeth II. Faced with a slumping currency, tight labor market and inflation near its highest in four decades, officials may feel the need to act more aggressively as rising food and energy prices fuel a cost-of-living crisis that is considered the worst in a generation. But giving pause could be economic relief measures from new Prime Minister Liz Truss' government that are expected to ease inflation short term. The meeting will tell us not only how worried policymakers are about the slide in sterling

UK inflation hits double digits in July for the first time in 40 years

The Consumer Prices Index rose 10.1% in July in the UK from a year earlier after a 9.4% gain the month before

UK economy shrinks in second quarter, sharpening recession fears

The statistics office said health spending was the biggest contributor to the fall, as the government scaled down coronavirus testing, contact tracing and vaccination programs.

As UK heads for recession, here's who could control finances in new govt

With the Bank of England predicting inflation topping 13% in the fall and a recession lasting through 2023, the next incumbent of 11 Downing Street will be under immediate pressure

UK heading for recession on BOE view even with Liz Truss tax cuts

Tory leadership favourite has pledged $47-bn tax giveaways

Dollar edges higher as investors turn attention to key US jobs data report

The U.S. dollar index, which measures the greenback against a basket of currencies, was up 0.22% to 105.93, after sliding 0.68% on Thursday, the largest fall since July 19.

Crypto wrap: RBI MPC unlikely to impact global crypto prices, say experts

The Reserve Bank of India (RBI), on Friday, hiked the repo rate by 50 basis points for the second consecutive time to 5.4 per cent

Will RBI catch up with rest of the world on Friday in terms of rate hike?

On August 4, the Bank of England is expected to raise rates by 50 bps to 1.75 per cent. A Business Standard poll of 10 economists expects the RBI to raise rates by 35-50 bps

BoE raises rates by most since 1995 even as long recession looms

The BoE's Monetary Policy Committee voted 8-1 for a half percentage point rise in Bank Rate to 1.75% - its highest level since late 2008 - from 1.25%

Top headlines: BoE raises rates by most since 1995; GAIL Q1 net up 51%

GAIL (India) Ltd, the nation's largest gas utility, on Thursday reported a 51 per cent jump in its June quarter net profit on the back of bumper margins from gas marketing

UK already in recession as cost of living crisis hits household incomes

The UK economy is already in recession as the cost of living crisis has devastating consequences for household incomes, a leading think tank has concluded

UK braces for biggest hike in interest rates in 27 years: Report

Bank of England says prices may leap as much as 11% this year

UK economy unexpectedly jumps in May as doctors and travel agents get busy

Britain's new finance minister, Nadhim Zahawi, welcomed the signs of growth but said there was no room for complacency

UK inflation rate hits new 40-year high of 9.1% in May, likely to rise more

The Bank of England says inflation could hit 11% in October when a cap on domestic energy bills is lifted

Unknown unknowns

Risk of a global shock will increase with higher rates

Bank of England boosts interest rate to 13-year high as inflation soars

Policy makers led by Governor Andrew Bailey hinted that they may join a growing global trend for larger hikes if inflation continues to soar

Bank of England nudges rates up again, but says ready to act forcefully

BoE raises rates by another 25 basis points to 1.25%; hike is smaller than recent moves by other central banks

Bank of England set to raise rates again as inflation heads for 10%

That would take Bank Rate to 1.25%, its highest level since January 2009, when Britain's economy was holed by the global financial crisis

Global stocks, dollar firm ahead of rate meetings, crude hits $120

The European Central Bank meets on Thursday, though it is not expected to begin raising interest rates until July, with rate setters at the US Federal Reserve and Bank of England gathering next week