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BoE

Sterling rises against dollar

Sterling rises against dollar

LONDON: Sterling hit a one-week high against the dollar on Wednesday, supported by the speed of Britain’s vaccine...
Updated 15 Apr, 2021 10:07am
Sterling falls
Business & Finance

Sterling falls

LONDON: The British pound held near a two-month low against the dollar and nursed losses against the euro on Tuesday...
Updated 14 Apr, 2021 10:11am
BoE's Tenreyro says removing policy support too early could be costly
Business & Finance

BoE's Tenreyro says removing policy support too early could be costly

  • "One lesson that we learned from the financial crisis is that withdrawing policy support too early can be very costly," Tenreyro said in an online discussion hosted by Swedish think tank SNS.
  • "Withdrawing it too early ... can lead to scarring effects on the labour market that would be very costly and slow down growth going forward," she added.
Published 12 Apr, 2021 09:03pm
UK appoints former Bank of Canada deputy Wilkins to BoE role
Business & Finance

UK appoints former Bank of Canada deputy Wilkins to BoE role

  • "Carolyn has a respected track record built over 20 years at the Bank of Canada and her extensive experience in international financial regulation will be a real asset to the FPC," British finance minister Rishi Sunak said.
  • The FPC sets capital ratios for British banks and insurers and regulates aspects of mortgage lending, as well as broader financial risks. Its remit does not extend to monetary policy or financial misconduct.
Published 08 Apr, 2021 06:59pm
Tokyo stocks open marginally higher ahead of key data
Markets

Tokyo stocks open marginally higher ahead of key data

  • In Tokyo, e-commerce giant Rakuten skyrocketed 20.72 percent to a day-time upper limit of 1,503 yen and Japan Post gained 1.95 percent to 1,045.5 yen after the companies confirmed reports that the two firms agreed to form a capital alliance.
Published 15 Mar, 2021 10:29am
Bank of England's Haldane warns inflation ‘tiger’ is prowling
Business & Finance

Bank of England's Haldane warns inflation ‘tiger’ is prowling

  • People are right to caution about the risks of central banks acting too conservatively by tightening policy prematurely.
  • "There is a tangible risk inflation proves more difficult to tame, requiring monetary policymakers to act more assertively than is currently priced into financial markets," Haldane said.
Published 26 Feb, 2021 06:09pm
Negative rates may be BoE's best tool in future: Saunders
Business & Finance

Negative rates may be BoE's best tool in future: Saunders

  • Saunders, one of nine members of the BoE's Monetary Policy Committee, said in December that he saw scope for borrowing costs modestly below zero.
  • "If we wanted to lower the yield curve from current levels, then I suspect a lower Bank Rate might be more appropriate," he told the Resolution Foundation think tank.
Published 18 Feb, 2021 08:59pm
Negative UK rate bets pushed further out on `hawkish' BOE
Business & Finance

Negative UK rate bets pushed further out on `hawkish' BOE

  • Britain's FTSE 100 index pared initial losses after the Bank's statement to traded 0.3% lower on the day, helped by the boost to bank stocks.
  • The BOE did sound mildly optimistic on the economic outlook and this in turn boosted the pound and weighed on the UK markets," said John Woolfitt.
Published 04 Feb, 2021 08:26pm