Results for “Bank of England” (4)

5 months ago

Starmer to hold meeting on war’s impact on UK economy

UK Prime Minister Keir Starmer will chair a meeting with representatives from the ⁠Bank of England and the ⁠government’s emergency response committee on Tuesday to discuss the impact of the US-Israel war on Iran. “Tomorrow I’m chairing a ‌meeting of COBRA on the impact , bringing in people from the Bank of England, so that you can be sure we will ⁠stand by working people ⁠in this crisis,” Starmer told trade union ⁠members today. “I have to level with you ⁠about Iran, because ⁠the truth is, the economic consequences could… Read More…

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Alina Hashmi Posted in World

3 years ago

Bank of England raises interest rates

The Bank of England (BoE) raised interest rates for the 11th consecutive time on Thursday. The move followed a surprise rise in inflation which dashed hopes prices would continue to drop. Policymakers on the BoE's Monetary Policy Committee (MPC) voted seven to two to increase rates from 4 percent to 4.25 percent. Read More…

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Alina Hashmi Posted in Business

3 years ago

Bank of England hikes interest rate to 14-year high

It emerged on Thursday that the Bank of England (BoE) had hiked its interest rate by half a point to 3.5 percent, the highest level in 14 years, in a bid to cool sky-high inflation. Today’s increase was the BoE’s ninth in a row. “The labor market remains tight and there has been evidence of inflationary pressures in domestic prices and wages that could indicate greater persistence and thus justifies a further forceful monetary policy response,” the BoE said in a statement following its latest rate increase. Read More…

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Alina Hashmi Posted in Business

4 years ago

UK inflation climbs to its highest

London: It emerged on Wednesday that the British inflation rose to its highest in more than 10 years in November, jumping to 5.1%. On Dec 14, the Bank of England announces that it would be raising interest rates for the first time since COVID-19 knocked. The Office for National Statistics (ONS) said that Price pressure from petrol, clothing, and footwear especially is the reason behind the increase in inflation to its highest since September 2011. Read More…

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