The Bank of England’s (BoE) executive director for markets, Andrew Hauser, crossed the wires in the last hour and said that unwinding QE will become an integral part of future tightening strategies. "Central bank balance sheets in future will be structurally larger, even after current QE programmes unwind."
BoE leaves monetary policy unchanged
BoE last movements on coronavirus countering
"Business indebtedness rose less during the pandemic than we feared." "It's too early to reach a conclusion on how much business insolvencies will rise." "On average, repayment of COVID loans may be easier than we had thought but will vary between sectors."
“We no longer need as much stimulus as before,” the Bank of England (BOE) policymaker Michael Saunders said in his scheduled speech on Tuesday. “Worry that continuing asset purchases when CPI is 4% might cause medium-term inflation expectations to drift higher.”
Latest BoE related News
Latest BoE related Analysis
BoE September meeting review
The Bank of England's (BoE) Monetary Policy Committee (MPC) decided to leave the benchmark interest rate unchanged at 0.10% and kept the Asset Purchase Facility steady at £895 billion at the end of September policy meeting, as was widely expected.
BoE August meeting review
Inflation is transitory – that has been the message from Federal Reserve officials for months, and it has now been echoed by the Bank of England. That is only one of the similarities between central banks on both sides of the pond.
The Bank of England's (BoE) Monetary Policy Committee (MPC) decided to leave the benchmark interest rate unchanged at 0.10% following the August policy meeting and kept the Asset Purchase Facility steady at £895 billion as widely expected. "8 MPC members voted to keep rates unchanged."
BoE June meeting review
The Bank of England's (BoE) Monetary Policy Committee (MPC) decided to leave the benchmark interest rate unchanged at 0.10% following the June policy meeting and kept the Asset Purchase Facility steady at £895 billion as widely expected.
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.
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.
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.