The Bank of England has come up with a new tool in the fight against cyber attacks June 10, 2014 The threat of cyber terrorism is increasingly perceived as one of the greatest risks to the financial sector, and the Bank of England is on it. The Bank's 2013 systemic risk survey saw a 10 per cent increase in concerns regarding operational risk (the highest since the survey began), with the risk of cyber terrorism [...]
Bank of England holds policy as investors await afternoon’s ECB statement June 5, 2014 They're still twiddling their thumbs over at the Bank of England. Policy has been left unchanged, with interest rates at their historic lows of 0.5 per cent, and asset purchases maintained at £375bn. No surprises there, with analysts widely forecasting we'd see nothing changed today. Minutes of the Monetary Policy Committee's last meeting revealed that [...]
Brace for impact: Bank of England issues warning on house prices May 21, 2014 Super low interest rates could inflate a housing bubble, the Bank of England admitted today, indicating it could step in to cool the rampant market soon. The monetary policy committee (MPC) said it will not raise interest rates to tackle to risks yet, but has pointed to the financial policy committee (FPC) as a [...]
Bank of England abandoned car: Driver arrested over “unconnected matter” May 16, 2014 The driver of the black car abandoned outside the Bank of England in central London yesterday has been arrested by Metropolitan Police. The 34 year-old man has been identified by police as the driver of the vehicle and was arrested yesterday afternoon. He has been arrested over an unconnected matter, said police. A spokesman told [...]
The Bank of England’s latest hire literally wrote the paper on the trade-off between growth and equality May 15, 2014 The arrival of US economist Kristin Forbes at the Bank of England is a huge win for the institution. With it, it's picked up one of the hottest properties in academia, with a near unrivalled knowledge of financial contagion and capital flows. She'll be the Monetary Policy Committee's first female member in five years when [...]
Police robot deployed at Bank of England over suspect car May 15, 2014 The roads around the Royal Exchange and Bank of England have been closed down and a police robot has been deployed, as a result of a suspect vehicle. It's rare to see the City so empty – and as the pictures below reveal, the closure has caused chaos for commuters. City Police have tweeted that [...]
Football banter is back at the Bank of England May 14, 2014 FINALLY, Mark Carney has realised what we want from our esteemed Bank governors – sporting banter, natch. The Bank of England head took us all back to the days of Mervyn’s sporting analogies, in yesterday’s quarterly inflation report. “Securing the recovery is like making it through the qualifying rounds of the World Cup,” he told [...]
The real world looks much less rosy than the Bank of England’s forecasts May 14, 2014 YESTERDAY’S Inflation Report presented a benign view of UK economic prospects. Economic growth is expected to continue at around 3 per cent or above, double the rate over the recovery so far. Yet sufficient spare capacity remains to prevent a rise in inflation. So interest rates can rise gradually and that can wait until next [...]
What could shock the Bank of England into hiking rates this year? May 14, 2014 The Bank of England's latest inflation report is out today – it's largely a steady-as-she-goes update from Threadneedle Street, but nestled at the back the Bank presents a potential upset to their forecast, which could prompt a rate hike sooner than markets expect. The Bank’s outgoing deputy governor, Charles Bean, said that any estimate [...]
Bank of England sees economy growing at 3.4pc this year May 14, 2014 The economists at Threadneedle Street have been busy. We've goth a host of update forecasts from the Bank of England, with the central bank suggesting that the UK economy is now performing strongly. The BoE sees 3.4 per cent GDP growth in 2014, and 2.9 per cent in 2015. In February, BoE forecasts suggseted that [...]