BoE’s Ramsden: Gradual and careful approach needed to rate cuts
|Bank of England (BoE) Deputy Governor Dave Ramsden spoke about monetary policy in a world of geopolitical fragmentation at Stellenbosch University in South Africa on Friday.
Bank of England (BOE)
BoE cuts policy rate by 25 bps in February, notes gradual approach to further easing
LATEST BOE MEASURES TO BATTLE INFLATION
BoE's Dhingra: Monetary policy alone is not well-suited to dealing with price shocks
|Bank of England (BoE) Monetary Policy Committee Member Swati Dhingra noted on Wednesday that there is only so much central bank policy can do in the face of trade-based supply shocks in order to keep prices stable.
BoE's Dhingra: We are already at high level of monetary policy restrictiveness
|Bank of England Monetary Policy Committee (MPC) external member Swati Dhingra said late Monday that the monetary policy restrictiveness is at a "high level" already.
Latest BoE related News
February meeting review
Breaking: BoE cuts policy rate by 25 bps to 4.5% as expected
|The Bank of England (BoE) announced on Thursday that it cut the policy rate by 25 basis points (bps) to 4.5% following the February policy meeting, as expected.
December meeting review
Breaking: BoE leaves interest rate unchanged at 4.75% as expected
|The Bank of England (BoE) announced on Thursday that it left the policy rate unchanged at 4.75% following the December policy meeting, as expected.
November meeting review
Breaking: BoE lowers policy rate by 25 bps to 4.75% as expected
|The Bank of England (BoE) announced on Thursday that it lowered the policy rate by 25 basis points (bps) to 4.75% following the November policy meeting, as expected.
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Big Picture
What is the BOE?
Founded in 1694, the Bank of England (BoE) is the central bank of the United Kingdom (UK). 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 maintaining the UK’s economic stability. It operates monetary policy by adjusting the Bank Rate and, in certain circumstances, supplements this with measures such as quantitative easing.
The Bank of England decides monetary policy for the United Kingdom. Its primary goal is to achieve a steady inflation rate of 2%. Its tool for achieving this is via the adjustment of base lending rates. The BoE sets the rate at which it lends to commercial banks and banks lend to each other, determining the level of interest rates in the economy overall. This also impacts the value of the Pound Sterling (GBP).
The official website, on X and YouTube
Who is BOE's Governor?
Andrew Bailey has been the Governor of the BoE since March 2020 and his appointment ends on March 2028. Previously, he served in the BoE as its Chief Cashier, Deputy Governor for Prudential Regulation and Chief Executive of the Financial Conduct Authority.
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.