Bank of England

Auto Added by WPeMatico

Bank of England Hikes Repo Rate by 75bps — UK’s 30-Year Fixed Mortgage Rate Jumps to 7%

by

On Nov. 3, 2022, the Bank of England followed the U.S. Federal Reserve by codifying the eighth consecutive benchmark bank rate hike by 75 basis points (bps). The increase brings the United Kingdom’s main lending rate to 3%, after a majority of the Monetary Policy Committee (MPC) members voted in favor of the 75bps increase. … Read more

Bank of England to Double Long-Dated Gilt Buy-Backs, QE Policy to See an ‘Orderly End’ in Mid-October

by

After the British pound sterling tapped an all-time low against the U.S. dollar on September 26, the Bank of England (BOE) said it would halt its monetary tightening policy and start buying long-dated bonds again. Approximately two weeks later, the BOE detailed on Monday that it was doubling the size of its debt buy-backs by … Read more

Bank of England Suspends Tightening Policy as Pound Nosedives — Central Bank to Start Purchasing Long-Dated UK Government Bonds

by

Following the extremely volatile European markets during the past few days and the euro and pound dropping rapidly against the U.S. dollar, the Bank of England has decided to intervene in bond markets. U.K. government bond yields have been erratic and the pound sterling also dropped to a lifetime low against the greenback. On Wednesday, … Read more

British Pound Taps All-Time Low Against US Dollar Following BOE’s 50bps Rate Hike

by

The world’s oldest fiat currency, the British pound sterling, slid to an all-time low against the U.S. dollar at a little after 1 a.m. (ET) Monday morning. At the time, the pound tapped 1.0327 nominal U.S. dollars per unit, but rebounded against the greenback to 1.0775 by 11 a.m. Monday morning. Pound Sinks Against Greenback … Read more

Bank of England Analysts See Crypto Having Important Roles in the Metaverse — Discuss the Need for Regulation

by

Bank of England’s analysts say crypto assets could have important roles within the metaverse. “Widespread adoption of crypto in the metaverse … would require compliance with robust consumer protection and financial stability regulatory frameworks,” they added. Bank of England’s Analysts on the Metaverse, Crypto, and Regulation Bank of England’s economist Owen Lock and policy analyst … Read more

Bank of England’s Cunliffe Warns Crypto Is ‘Prone to Collapse’ — Touts ‘Same Risk, Same Regulatory Outcome’

by

Bank of England’s deputy governor for financial stability, Sir Jon Cunliffe, has warned that cryptocurrencies are “very vulnerable to sentiment and prone to collapse.” He urged regulators to “get on with the job” and regulate crypto under the principle of “same risk, same regulatory outcome.” Bank of England’s Cunliffe on Crypto Regulation Sir Jon Cunliffe, … Read more