Showing posts with the label Bank of England

News | Bank of England: UK ?s Economic Recovery After Covid Tight borders after Covid vaccines will have negative economic impacts, Bank of England says Elliot Smith 4-5 minutes LONDON - Ben Broadbent, the Bank of England’s deputy governor for monetary policy, told CNBC Friday that tight borders following the rollout of coronavirus vaccines would likely be detrimental to the U.K.’s economic recovery. Speaking to CNBC, Broadbent said the possibility of tight external borders but an internal opening once coronavirus vaccines had become ubiquitous would weigh on the economy. “One of the downside risks we flagged is the possible emergence of new variants that are less susceptible to the vaccines. We haven’t examined precisely the effects of the different sorts of restrictions,” he said. “My instinct would be that if you close borders, that would be negative for both the demand and the supply side of the economy.” The U.K. government on Thursday announce

News | Bank of England: Pressure mounts on Bank of England and Rishi Sunak to prop up economy

By Tom Rees  3-4 minutes - The Telegraph Bank of England could make co-ordinated response with the Treasury to the coronavirus outbreak on Wednesday The Bank of England is under mounting pressure to ward off recession by slashing interest rates to almost zero in what would be one of Mark Carney's final acts as Governor. Investors are betting on a 0.5 percentage point cut within weeks in response to the rising threat of a global recession, bringing rates down to 0.25pc. It is thought that further cuts by the summer could then take rates even closer to rock-bottom levels. A cut would boost millions of mortgage holders by reducing their payments, but spell misery for savers who would earn even less on their deposits. Yields on some UK government debt turned negative for the first time ever as signs of plunging confidence increased the pressure on the Bank’s rate-setters and Chancellor Rishi Sunak to announce emergency suppo

Bank of England raises interest rates for the second time in 10 years I CNBC

Image Bank of England raises interest rates for the second time in 10 years Silvia Amaro