Trends - Bank of England - Business Recorder

Bank of England

Worst yet to come for banks in terms of pandemic fallout, BoE's Woods says

We feel good about what's happened so far but in a way the tougher bit is coming.
"I am not worried about that, it will be manageable but it will be significant."

Published 05 Feb, 2021 07:34pm

Business & Finance

Bailey says fears over BoE independence are ‘without merit’

I'm sorry to have to be blunt, I'm afraid these arguments are entirely without merit.
The BoE has doubled its target for government bond purchases to 895 billion pounds ($1.23 trillion) since the start of the pandemic last year.

Published 05 Feb, 2021 07:28pm

Markets

Gold inches up, but set for worst week in ten

The Bank of England gave British lenders breathing space of at least six months on Thursday before negative interest rates are a possibility.

Published 05 Feb, 2021 11:50am

BoE says banks need 6 months for any sub-zero rates

LONDON: Britain's banks would need at least six months to prepare for any cut in interest rates below zero, the Bank...

Updated 05 Feb, 2021 10:06am

Business & Finance

Sterling falls against dollar

LONDON: Sterling fell to its weakest in more than two weeks against the dollar on Thursday before a Bank of England...

Updated 05 Feb, 2021 11:47pm

Business & Finance

Bank of England cuts outlook despite vaccines rollout

The BoE said that the economy was about eight percent smaller in the fourth quarter than before the pandemic began in early 2020.

Published 04 Feb, 2021 09:18pm

World

BoE's Bailey says UK economy not as bad as rankings suggest

Actually I think the UK's performance is nowhere near as adverse ... as suggested by the headline numbers.
BoE kept its stimulus programmes on hold before an expected economic recovery later this year.

Published 04 Feb, 2021 09:10pm

Business & Finance

BoE's Bailey: important we consider issues on future tightening

"The simple point I'd make is this: the last time the committee considered this question, if my memory serves me right, was in 2018. The world has changed a lot since 2018."
Earlier on Thursday the BoE said its policymakers had asked staff to start work "to reconsider the previous guidance.

Published 04 Feb, 2021 07:26pm

Business & Finance

UK banks would need at least six months to prepare for negative rates, says BoE

The central bank published results from its review of how prepared lenders like HSBC, Lloyds and Barclays would be to implement negative interest rates for the first time.
The Prudential Regulation Authrity's engagement with regulated firms had indicated.

Published 04 Feb, 2021 05:37pm

Business & Finance

Sterling falls against dollar

LONDON: Sterling edged lower against the dollar on Wednesday but was little changed versus the euro ahead of a Bank...

Published 04 Feb, 2021 04:13am

Markets

British vaccines push pound to highest since May against euro

Britain, where some 9 million people have been given their first dose of a vaccine, said it expected its supply of COVID-19 shots would not be interrupted.

Updated 02 Feb, 2021 09:44am

World

UK card spending running 35pc below pre-pandemic levels

LONDON: Spending on payment cards in Britain last week stood 35% below pre-pandemic levels with the country in its...

Published 22 Jan, 2021 04:47am

Business & Finance

Sterling at fresh 2-1/2 years high against dollar

LONDON: Sterling set a fresh 2-1/2 year high against the dollar and a new 8-month high against the euro on Thursday...

Published 22 Jan, 2021 04:47am

Business & Finance

Bank of England adapts bank stress test for pandemic era

Ring-fenced units excluded from 2021 test.
Virgin Money UK to participate in test.
Aggregate results published in the summer.
Bank-by-bank results due in fourth quarter.

Published 20 Jan, 2021 06:17pm

Business & Finance

Sterling slips against euro

LONDON: Sterling slipped against a strengthening euro and gained against a weaker dollar on Tuesday ahead of the...

Published 20 Jan, 2021 04:29am

Markets

BoE's Haldane sees rapid economic recovery from COVID hit

Haldane said that he expected recovery to be faster than after the 2008-9 financial crisis, as the economic collapse in 2020.

Published 20 Jan, 2021 12:20am

Business & Finance

BoE's Broadbent says COVID had less inflation impact than expected

Broadbent said the smaller slowdown in inflation reflected shifts in consumer demand during the pandemic that had led to temporary capacity constraints in businesses.
The consequences for cost pressures over the medium term - and therefore for monetary policy - are probably limited.

Published 12 Jan, 2021 05:29pm

Business & Finance

BoE's Tenreyro says rates could go below -0.75pc in theory

Other countries have reached (negative) 75 basis points without problem, so a lower number is very likely possible.

Published 11 Jan, 2021 09:13pm

Markets

End-game for Libor is now clear, say UK financial regulators

Firms should have everything they need to shift new financial contracts to SONIA, the BoE overnight interest rate.
Regulators want the use of Libor ended after banks were fined for trying to rig what was once dubbed the world's most important number.

Published 11 Jan, 2021 06:42pm

Business & Finance

Business as usual for EU banks in 'open' London, says Bank of England

Britain is keen to maintain the City of London's attractiveness as a global financial centre after full access to the EU, hitherto its biggest customer, ended last month.
Overall, the Prudential Regulation Authority's (PRA) approach to the supervision of international banks remains stable and consistent following the UK's withdrawal from the EU.

Published 11 Jan, 2021 06:26pm

Business & Finance

EU may ask too high a price for financial services trade, BoE warns

European share trading worth billions of dollars left the City of London for the continent this week in the first tangible sign of Brexit's impact on Britain's financial services sector.
Bailey said Britain must not become a "taker" of EU rules in return for access.

Published 06 Jan, 2021 09:05pm

Business & Finance

UK has lost up to 7,000 financial services jobs due to Brexit, BoE says

That of course is the day one thing. It doesn't tell us what it might be eventually. It's substantially less, I should say.
The sorts of numbers that were being talked about after the referendum.

Published 06 Jan, 2021 08:39pm

World

UK launches new £4.6bn plan to help virus-hit firms

The Bank of England is also pumping out vast sums of cash to prop up the devastated economy.

Published 05 Jan, 2021 04:38pm

Business & Finance

UK retail sales slide as November lockdown shut non-essential stores

Annual sales growth halved to 2.4pc from 5.8pc, but many economists predicted a rapid recovery in December.

Published 18 Dec, 2020 02:52pm

Markets

Bank of England ready to tolerate a Brexit inflation spike

The BoE said it was ready to accept inflation rising temporarily above its 2pc target if a no-deal Brexit caused sterling to fall sharply.

Published 17 Dec, 2020 08:56pm

Markets

Dollar gets global beating as stimulus, Brexit boost risk appetite

The dollar index fell as low as 89.767 against a basket currencies, breaking below 90 for the first time since April 2018.

Published 17 Dec, 2020 08:35pm

Markets

Sterling rises above $1.36 on renewed Brexit trade deal hopes

The pound is benefiting from an improvement in the narrative on the chances of a Brexit trade deal this week, almost a year after Britain formally left the European Union.

Published 17 Dec, 2020 04:52pm

Markets

European shares up for fourth session on stimulus optimism

Germany and France said they were set to begin inoculating their citizens with the Pfizer-BioNtech vaccine in the last week of December, once it is approved by the European Medicines Agency.

Published 17 Dec, 2020 01:47pm

Markets

Bank of England set to wait for end to Brexit stand-off

The BoE's bond-buying programme is widely seen as its most likely weapon should it need to return to the stimulus pumps.

Published 17 Dec, 2020 10:55am

Markets

Gold near 1-week high on growing prospects of US stimulus

Britain and the European Union have moved closer to sealing a new trade deal but it was still unclear if they would succeed, the bloc's chief executive said on Wednesday.

Published 17 Dec, 2020 08:48am

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / May 20	278.30
USD PKR Interbank Buying / May 20	278.10
USD to Japanese Yen / May 20	155.76
USD to Swiss Franc / May 20	0.91
Pound Sterling to USD / May 20	1.27
Euro to USD / May 20	1.09

Stock	Volume
S&P 500 / May 17	5303.27
India Sensex / May 17	73917.03
Nasdaq / May 17	16685.97
Dow Jones / May 17	40003.59
Tokyo Nikkei / May 20	39197.34
Hang Seng / May 20	19650.18
FTSE 100 / May 20	8442.03
Germany DAX 30 / May 20	18754.68

Item	Value
Karachi Cotton PKR/37.32 KG / May 17	19935
Petrol/Litre / May 20	273.10
Crude Oil USD/Barrel / May 20	80.09
Gold 10 Grams PKR / May 20	214678
Gold Spot USD/Ounce / May 20	2436.84
Diesel/Litre / May 20	274.08

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / May 20 786 Investments Limited(786)	5 ▼ 0.00 (0.00%)
AL-Abbas Sugar / May 20 Al-Abbas Sugar Mills Limited(AABS)	585 ▼ 0.00 (0.00%)
Agro Allianz / May 20 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / May 20 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / May 20 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / May 20 Allied Bank Limited(ABL)	87.10 ▼ 0.00 (0.00%)
Abbott Lab. / May 20 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▼ 0.00 (0.00%)
Abson Ind. / May 20 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / May 20 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / May 20 786 Investments Limited(786)	5 ▲ 0.00 (0.00%)
AL-Abbas Sugar / May 20 Al-Abbas Sugar Mills Limited(AABS)	585 ▲ 0.00 (0.00%)
Agro Allianz / May 20 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / May 20 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / May 20 Ali Asghar Textile Mills Limited(AATM)	2.07 ▲ 0.00 (0.00%)
Allied Bank / May 20 Allied Bank Limited(ABL)	87.10 ▲ 0.00 (0.00%)
Abbott Lab. / May 20 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▲ 0.00 (0.00%)
Abson Ind. / May 20 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / May 20 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▲ 0.00 (0.00%)

Stock	Volume
P.I.A.C.(A) / May 20 Pakistan International Airlines Corp(PIAA)	47,200,500 ▲ 0.00
Cnergyico PK / May 20 Cnergyico PK Limited(CNERGY)	29,719,327 ▲ 0.00
Pak Petroleum / May 20 Pakistan Petroleum Limited(PPL)	21,170,581 ▲ 0.00
Pak Refinery / May 20 Pakistan Refinery Limited(PRL)	16,965,134 ▲ 0.00
The Searle Co. / May 20 The Searle Company Limited(SEARL)	15,793,227 ▲ 0.00
P.T.C.L. / May 20 Pakistan Telecommunication Company Ltd(PTC)	15,054,641 ▲ 0.00
K-Electric Ltd. / May 20 K-Electric Limited(KEL)	14,145,556 ▲ 0.00
WorldCall Telecom / May 20 Worldcall Telecom Limited(WTL)	13,158,668 ▲ 0.00
Telecard Limited / May 20 Telecard Limited(TELE)	12,358,668 ▲ 0.00

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