Trends - Bank of England - Business Recorder

Business & Finance

Bank of England allots most since June in 6-month repo

Demand for the funding peaked on March 24 at 7.2 billion pounds, when liquidity shortages caused by financial market turmoil related to the coronavirus were at their greatest.

Published 06 Oct, 2020 03:47pm

Business & Finance

Bank of England reaches target for corporate bond purchases

BoE data showed the central bank held 19.7 billion pounds of corporate bonds as of Sept. 30.

Published 01 Oct, 2020 07:49pm

Business & Finance

Bank of England survey shows furlough numbers falling, Brexit worries

However, firms said they expected a recent recovery in demand to stall over the next three months, and reported the highest level of anxiety over Brexit since December last year.

Published 01 Oct, 2020 03:37pm

Business & Finance

Bank of England seeks to increase competition in home loans

Some bigger banks can use their own internal models for determining the risk weightings and therefore capital levels for home loans they have granted.

Published 30 Sep, 2020 03:23pm

Business & Finance

Bank of England's Ramsden sees 0.1pc as floor for rates

The BoE, seeking ways to help Britain's economy through the coronavirus crisis, said this month it would look at how it might be able to implement negative rates if they were needed.

Published 28 Sep, 2020 05:08pm

Business & Finance

BoE's Haldane says speed of reactions to COVID crisis gives hope

The crisis provided an opportunity to rethink the country's approach to business and skills.
"It's for us to seize that opportunity, as it was at the end of the Second World War," he said in an interview with ITV.

Published 25 Sep, 2020 01:39am

Business & Finance

Bank of England to propose simpler rules for small banks

The BoE will propose the simpler rules for smaller lenders in a month or so, a step that would have been impossible to agree if Britain was still in the European Union.

Updated 22 Sep, 2020 06:51pm

Markets

Sterling regains lost ground after BoE negative rate talk

The Bank of England kept its main stimulus programmes on hold, as expected, and said that Britain's economy had performed better than expected.
It is clear that they are examining and lining up the tools they can deploy including more quantitative easing and negative rates if the economy diverges from their central scenario,

Published 17 Sep, 2020 09:19pm

Business & Finance

Bank of England studies sub-zero rates in case troubles deepen

BoE says MPC briefed on negative rates.
BoE to look at operational considerations of negative rates.
Bank Rate and bond-buying programme kept on hold.
Sterling falls after announcement.

Published 17 Sep, 2020 06:03pm

Business & Finance

Bank of England set to show it's ready for more stimulus

The BoE has enough firepower in its bond-buying programme to last until the end of 2020.
Britain's economy suffered the biggest contraction of all Group of Seven economies in the second quarter before regaining half of the crash by the end of July.

Published 11 Sep, 2020 08:52pm

Business & Finance

BoE's Saunders expects more stimulus as UK economy stumbles

Says "quite likely" that more easing will be needed.
Benign window for economy may be closing.
QE clearly an option, questions about negative rates.
Says thin trade deal, Brexit uncertainty likely.

Published 04 Sep, 2020 05:44pm

Markets

Bank of England says regulators must keep ahead of stablecoins

Central banks and financial regulators feared Libra -- planned as a stablecoin backed by a wide mixture of currencies and government debt.
Existing regulatory standards must be examined and updated where necessary in light of stablecoins, he said.

Published 03 Sep, 2020 09:22pm

Business & Finance

Bank of England policymakers warn UK economy facing bigger risks

Ramsden told lawmakers that the BoE had estimated the level of Britain's economic output would permanently be about 1.5 percentage points lower.
For me all the risks are really that that number will be greater than 1.5%.

Published 02 Sep, 2020 07:30pm

Business & Finance

‘Go big and go fast’ - BoE's Bailey lauds power of bond-buying

We are not out of firepower by any means, and to be honest it looks from today's vantage point that we were too cautious about our remaining firepower pre-COVID.
Bailey said research by the BoE showed bond-buying by central banks was most effective at times of crisis in financial markets.

Published 28 Aug, 2020 07:39pm

Business & Finance

Bank of England sees slower economic recovery from COVID hit

Unemployment is expected to peak at 7.5pc at the end of this year, almost double the most recent rate but lower than the BoE's previous estimate of just under 10pc.

Published 06 Aug, 2020 03:53pm

Business & Finance

Bank of England to consider extending suspension of payouts by banks

The BoE said its Prudential Regulation Authority would undertake its assessment of distribution plans beyond the end of 2020, in the fourth quarter.

Published 28 Jul, 2020 05:31pm

Business & Finance

Bank of England sets out ways to help small banks grow

Sarah Breeden, the BoE's executive director for UK Deposit Takers Supervision, said many of the new banks authorised since 2014, seem to have underestimated what is needed to become successful.

Published 22 Jul, 2020 04:02pm

Business & Finance

Bank of England's Bailey sees UK economy beginning to recover

"We are seeing activity return. We are beginning to see this recovery," Bailey said during a webinar organised by the central bank.
The BoE did not know how much long-term damage the economy would suffer as a result of companies failing.

Published 17 Jul, 2020 06:08pm

Markets

BoE's Bailey says now is the time to plan for post-Libor era

Bailey acknowledged there had been calls to step back from the Libor transition as a priority because of the shock to global financials markets caused by the coronavirus crisis.
But in my view, what we saw in financial markets in March in response to the shock of Covid only reinforces the importance of removing the financial system's dependence on Libor in a timely way.

Published 13 Jul, 2020 09:05pm

Business & Finance

Business interruption is big unknown for insurers, says BoE

"The highest level of uncertainty remains around business interruption," she told a City & Financial online event.
"A number of insurers are taking steps to make sure there is no ambiguity about who is and isn't covered for a second wave," Sweeney said.

Published 08 Jul, 2020 05:39pm

Business & Finance

'So far so V', Bank of England's Haldane says of UK recovery

"It is early days, but my reading of the evidence is so far, so V," Haldane said in a speech delivered online.
The recovery in Britain and global economies had come "sooner and faster than any other mainstream macroeconomic forecaster.

Published 30 Jun, 2020 06:59pm

Markets

Bank of England tells banks to push on with climate risk analysis

The guide drawn up by the Climate Financial Risk Forum (CFRF), which was set up by the BoE and Britain's Financial Conduct Authority last year.
"It's much easier said than done. It takes time to develop," Breeden told an online launch event for the guide.

Published 29 Jun, 2020 07:02pm

Business & Finance

Bank of England's Bailey says QE bond sales should precede rate rises

Bailey wants BoE to sell some gilts before raising rates much.
Previous policy favoured rate rises before gilt sales.
Record BoE gilt purchases "shouldn't be taken for granted".
Bailey says UK would have struggled to borrow without BoE aid.
BoE

Published 22 Jun, 2020 07:06pm

Business & Finance

Bank of England to remove any portraits of former governors linked to slave trade

As an institution, the Bank of England was never itself directly involved in the slave trade.
The Bank has commenced a thorough review of its collection of images of former Governors.

Published 18 Jun, 2020 10:59pm

Business & Finance

Bank of England tells insurers to check capital to cope with COVID

"Our analysis showed that the sector was robust to downside stresses, with the highest uncertainty centred on certain general insurers' liabilities - particularly those arising from business interruption claims.
"We expect boards to assess whether the

Published 18 Jun, 2020 12:40am

Business & Finance

Bank of England's Bailey says we must be ready for further stimulus

The BoE is expected to announce a fresh increase of at least 100 billion pounds ($126 billion) in its bond-buying firepower next week.

Published 12 Jun, 2020 07:02pm

Business & Finance

Bank of England plans daily compounded Sonia index from August

The BoE had previously intended to publish a compounded Sonia index from July.

Published 11 Jun, 2020 03:58pm

Business & Finance

Bank of England tells banks to step up no-deal Brexit plans

Bailey held a conference call on Tuesday with Britain's biggest lenders in which he emphasised that they needed to step up their plans for a no-deal Brexit, Sky said.
Britain's financial services minister John Glen said on Wednesday that the country

Published 03 Jun, 2020 03:48pm

Business & Finance

UK banks' demand for 6-month BoE funds rises to 4-week high

Last week's repo allocated just 5 million pounds of demand, down from a peak of 7.2 billion pounds in March.

Published 02 Jun, 2020 03:45pm