Bank of England (BOE)

BoE sends GBP/USD lower


BoE last movements on coronavirus countering

BoE's Ramsden: We can step up pace of QE if needed

The Bank of England can step up the pace of quantitative easing (QE) if needed, BOE Deputy Governor Dave Ramsden told parliament while delivering the BoE's annual report on Wednesday, as reported by Reuters. "We have headroom to do materially more QE," Ramsden added. "We could do it fast if market dysfunction required it."

BoE's Haldane: We are reviewing negative rates

"If there was a further negative shock to the economy we would need to think about further lowering of the cost of borrowing," Andy Haldane, the Chief Economist of the Bank of England (BoE), said on Monday. Key takeaways: "I am reassured that more will be done on the fiscal policy if needed."

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Latest BoE related Analysis


BoE June Meeting Review

BoE MAY Meeting Review

BOE Quick Analysis: More QE seems only a matter of time, GBP/USD has room to rise

A sharp temporary slump with a slow recovery – that is the gist of the Bank of England's early morning rate decision – follow live . Governor Andrew Bailey seems to be out of the "V-shaped recovery" camp which continues shrinking. The situation is so worrying that two members voted to expand the bank's Quantitative Easing program beyond the already broad level of £645 billion – increased by 45% in the March decision.

BoE MARCH Meeting Review

Bank of England leaves policy rate unchanged at 0.1% as expected

The Bank of England's Monetary Policy Committee held the policy rate unchanged at 0.1% in March after making two emergency rate cuts earlier in the month to help the economy in the face of the coronavirus outbreak. The Asset Purchase Facility remained steady at €645 billion as well.

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Big Picture

Brexit is far from over

The UK has formally left the EU on January 31, 2020. However, Britain remains in a transition period, retaining most rights and obligations throughout the transition period which expires at the end of the year.

UK Prime Minister Boris Johnson has ruled out extending the implementation phase despite the COVID-19 pandemic. The deadline to request for such a prolongation passed on June 30. Without an accord, Britain will shift to World Trade Organization rules in 2021, an outcome seen as unfavorable for both sides, and especially the UK.

Several rounds of face-to-face and online talks have failed to yield substantial progress, with London and Brussels unable to reach a "landing zone" on fisheries, regulation, and a "level-playing field" – the EU's demand that the UK follows its rules in return for easy market access. Several political analysts expect to see progress only close to year-end.

What is the BOE?

Founded in 1694, the Bank of England (BoE) is the central bank of the United Kingdom. Sometimes known as the ‘Old Lady’ of Threadneedle Street, the Bank’s mission is "to promote the good of the people of the United Kingdom by maintaining monetary and financial stability".

The Bank of England is responsible for keeping the UK’s economy on the right track. They operate monetary policy by moving Bank Rate up and down and, in certain circumstances, we also supplement this with measures such as quantitative easing.

The official website, on Twitter and YouTube

Who is BOE's president?

Andrew Bailey is Governor of the BoE and Chairman of the Monetary Policy Committee, Financial Policy Committee and the Prudential Regulation Committee. The Governor joined the Bank on 16 March 2020. His appointment as Governor was approved by Her Majesty the Queen.


Bailey on his profile and Wikipedia

Interest rates latest news

The World Interest Rates Table

The World Interest Rates Table reflects the current interest rates of the main countries around the world, set by their respective Central Banks. Rates typically reflect the health of individual economies, as in a perfect scenario, Central Banks tend to rise rates when the economy is growing and therefore instigate inflation.