Bank of England

BoE planning to restrict excessive risk-taking

BoE planning to restrict excessive risk-takingThe Bank of England (BoE) has said that it is planning to take steps to prevent excessive risk taking by banks in the UK.

Under the new rules proposed the central bank, misbehaving bankers and their bosses will be forced to give backbonuses up of up to six years. The aim of the new regulations to restrict bankers taking huge bets. The rules have been put out for consultation by the central bank yesterday and will be adopted after receiving comments and recommendations from various sections.

Grabiner brought in to probe foreign exchange scandal

Grabiner brought in to probe foreign exchange scandalThe authorities in the UK have brought in Lord Grabiner to probe foreign exchange scandal at the Bank of England, the UK's central bank.

His appointment is intended to indicate that the central bank is serious over the scandal. The bank is concerned over the allegations that the staff of the bank knew about manipulation or even encouraged such behaviour.

BoE not looking to increase rates soon, says Carney

BoE not looking to increase rates soon, says CarneyMark Carney, the governor of the UK's central bank has said that the Bank of England is not looking to increase its key interest rates soon.

He affirmed that the central will only start increasing rates when the UK economy shows signs of operating at full capacity. The central bank had said that it will consider a range of measures while deciding if it is aiming to increase interest rates.

UK economy to be in better shape than expected, BoE

Bank of EnglandBank of England, the central bank in the UK, has said that the UK economy will be in much better shape than expected by the General Elections, giving a major boost George Osborne.

Governor Mark Carney described the UK economy as one of the strongest in the developed world. He expects stronger growth, tumbling unemployment and lower inflation in the coming years. While speaking at a policy review, the governor said that the recovery has gained momentum. However, he warned that the recovery is not yet balanced and sustainable in the economy.

Forward guidance on interest rates will “evolve” next month, Carney

Mark CarneyMark Carney, the Governor of the Bank of England has said that the forward guidance on interest rates will "evolve" next month.

He dismissed expectations of an imminent rate rise in the UK and said that the Bank's Monetary Policy Committee and the policy makers will consider a range of options in the coming month for the strategy for the UK's central bank. He said that the level of stimulus will remain exceptional for some time and pointed out when it will be appropriate to increase rates, the hike will be gradual.

Bank of England to keep its interest rates at 0.5%

Bank of England to keep its interest rates at 0.5%UK's central bank, the Bank of England has indicated that it will keep its interest rates at the record low level of 0.5 per cent.

Carney dismisses proposal to limit bankers’ bonuses

Mark CarneyMark Carney, the governor of the Bank of England, has dismissed proposals to cap bankers' bonuses and described it as a crude measure that is expected to fail to meet its objectives.

He said that the move will simply enable to the banks to increase the basic salaries of its executives in order to retain talent. The remarks were made at a time when the Royal Bank of Scotland is planning to give senior staff bonuses worth twice their salaries.

BoE keeps its forward guidance policy unchanged

Bank of EnglandUK's central bank, the Bank of England (BOE) has now made any changes to the forward guidance policy this month and kept its interest rates at their current low level during January.

Mortgage lenders willing to offer loans, BOE

Bank of EnglandThe Bank of England said yesterday that the trend in during the economic slowdown when home buyers were unable to obtain loans has passed and the mortgage lenders are now increasingly willing to offer home loans in the country.

Paul Tucker honoured with knighthood

Paul Tucker honoured with knighthoodA former deputy governor at the Bank of England, Paul Tucker has been given a knighthood for his services to banking in the New Year's Honours list.

Sir Paul was in the race to become the head of the central bank but the decision went in favour of Canadian Mark Carney, who took over the institution when Mervyn King stepped down as the the governor of the Bank of England. He left the bank to take a senior fellowship at Harvard after more than 30 years at the key institution.

Plastic to replace paper in UK currency bank notes

Plastic to replace paper in UK currency bank notesAccording to latest reports, the UK authorities are planning to replace traditional paper bank notes with new plastic currency notes from 2016 that will be harder to makeover.

BoE warns over housing market

HouseThe Bank of England warned that the housing marketing the UK is at the risk due to rapidly increasingly housing prices.

Chief economist Spencer Dale said that the housing market is facing the risk of overheating. The comments from the central bank might raise fears that the BoE might increase interest rates sooner than expected. It is believed that the construction sector is rising rapidly in the housing sector. Data released from Halifax showed house prices rose 7.7 per cent per year in November, which is the fastest rate in six years.

Bank of England to keep interest rate at 0.5%

BOEThe Bank of England has said that it is planning to keep at interest rates at the record low of 0.5 per cent in order to help revive the economy in the UK. Mark Carney, the governor of the Bank of England has indicated that the central bank is likely to keep interest rates low even after risks of housing bubble or a fall in unemployment.

Bank of England takes steps to control rising housing prices

Bank of England takes steps to control rising housing pricesUK's central bank, Bank of England has said that it has taken steps to control the rising housing prices in the country, a move that has affected house builder's sentiment.

Following the move by the central bank, investors panicked and withdrew as much as one billion pounds off the sector. Governor Mark Carney has indicated that the central bank will adopt mortgage of measures to control mortgage lending, including changes to its Funding for Lending scheme a strict credibility for borrowers.

Carney committed on keeping interest rates low

Carney committed on keeping interest rates lowMark Carney, the governor of the Bank of England has indicated that the central bank is likely to keep interest rates low even after risks of housing bubble or a fall in unemployment.

BoE not looking to cut rates soon

BoE not looking to cut rates soonUK’s central bank, the Bank of England has indicated that it is not looking to cut interest rates soon as the economy continues in its path of recovery.

Bank of England Governor Mark Carney has indicated that he is not planning to raise interest rates in soon even as the Britain's economic outlook improved over the previous three months. The central bank of the country is set to release fresh forecasts today as it looks to revise its growth outlook and predict lower unemployment and inflation than three months ago.

Tyrie wants BOE to clarify its authority relating to ‘Help to Buy'

Andrew TyrieAndrew Tyrie, the chairman of the Treasury Committee has asked the Bank of England to clarify what powers it has to protect the UK from the property bubble.

Tyrie has written a letter to the Bank Governor Mark Carney asking for clarification on what role is the central bank going to play in monitoring the new phase of the Government's Help to Buy scheme. Leading banks have said that they will participate in the scheme in order to boost the housing market by allowing people to benefit from government backed mortgages.

UK’s growth is driven by housing market, says Carney

Mark CarneyBank of England Governor Mark Carney has indicated that he believes that the strong economic recovery in the UK is backed by the revival in the country's housing market.

While speaking to a media outlet, he said that most of the growth in the economy is coming fromt eh momentum in the housing market. The Office for National Statistics said that the British economy grew 0.8 per cent during the three months till 30, September, 2013. The growth is higher than 0.7 per cent recorded in the previous quarter and mostly in line with expectations.

Bank of England to replace CAPD

Bank of England to replace CAPDBank of England is looking for candidates to replace the head of the bank's Conjunctural Assessment and Projections Division as Robert Woods concludes his secondment from the U. K. Treasury early next year.

Bank of England unveils stress test plans

Bank of England unveils stress test plansLondon, Oct 2 : Bank of England (BOE) unveiled plans for stress testing of British banks which could see increases in the amount of capital they are obliged to hold.

"Looking to 2014 and beyond, the Bank and Prudential Regulation Authority (PRA) should develop proposals for regular stress testing of the British banking system. The purpose of those tests would be to assess the system's capital adequacy," the bank said in a paper.




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