Staff at the Bank of England will today (Tuesday 1 August) start a three day strike at the bank. Members of the UK’s largest union, Unite, are holding a demonstration outside the bank’s London office at 8.15 am today to mark the start of a historic strike over pay. The Labour shadow chancellor of the…
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The following article was written by Ipek Ozkardeskaya, Senior Market Analyst at FCA regulated broker London Capital Group Holdings plc (LON:LCG). The Bank of England’s (BoE) Financial Stability Report revealed that Governor Mark Carney is moving toward macro-prudential measures to temper the UK’s rising inflationary pressures within the ‘Brexit reality’. Mark Carney can no longer…
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The Bank of England’s Monetary Policy Committee (MPC) sets monetary policy to meet the 2% inflation target, and in a way that helps to sustain growth and employment. At its meeting ending on 15 March 2017, the Committee voted by a majority of 8-1 to maintain Bank Rate at 0.25%. The Committee voted unanimously to…
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Brexit is no longer the biggest risk to the UK financial system, the Bank of England Governor has declared. According to Sky News, Mark Carney shared that the economy was growing more strongly than he or the rest of the Monetary Policy Committee had expected in the wake of the referendum. Mr Carney commented: Strictly speaking,…
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Sterling traded close to a four-week high on Friday and was heading for its best week since March. The pound jumped right after England's High Court put a spanner in the government's plans to forge ahead with Britain's exit from the European Union. The battered pound returned to its 2.5% against the dollar this week…
Read moreMinouche Shafik, Deputy Governor for Markets and Banking, will leave the Bank at the end of February 2017 to become the Director of the London School of Economics (LSE). Bank of England Governor Mark Carney commented: We will say farewell to Minouche with gratitude and regret. She helped drive vital reforms on the domestic and…
Read moreThe focus for investors on Thursday was BoE's rate decision. UK interest rates have been cut from 0.5% to 0.25% and the Bank of England has reported that they could go even lower if the economy worsens. BoE has announced a range of measures to stimulate the UK economy, including a £100 billion scheme to…
Read moreAsia stocks were up again as upbeat U.S. jobs data calmed immediate concerns about the health of the world’s largest economy. Japan’s Nikkei jumped 4.5%, which happened to be its highest daily gain in 3 months. Hikaru Sato, a senior technical analyst at Daiwa Securities, commented: Abe's victory boosted confidence in investor sentiment, and winning…
Read moreBank of England (BoE) Governor Mark Carney today stated that the central bank of the United Kingdom would adopt a laissez-faire stance towards the pound no matter what decision comes during the UK-EU referendum being held on Thursday, June 23, to decide whether Britain should leave or remain in the European Union. For traders, they should expect to see…
Read moreLME Clear, the clearing house for the London Metal Exchange now accepts five currencies as cash collateral: US dollar, sterling, euro, yen and offshore renminbi.
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