The annual inflation as measured by the Consumer prices Index fell from 2.8% in March to 2.4% in April this year.
The largest contributing factor pushing the inflation rate down was transport costs mainly from motor fuel and air fares says the ONS. (more…)
The Bank of England’s Monetary Policy Committee today voted to maintain the official Bank Rate paid on commercial bank reserves at 0.5%. The Committee also voted to maintain the stock of asset purchases financed by the issuance of central bank reserves at £375 billion. (more…)
This morning, the Bank of England and the Treasury announced an extension to the flagship ‘Funding for Lending’ Scheme (FLS). The FLS will now be extended by one year until January 2015, and will cover lending to certain non-bank credit providers in addition to banks. (more…)
Regulatory and legal frameworks share common roots. Both are complex, evolutionary systems, shaped by history. They are the result of a set of well-intentioned historical actions by technicians charged with filling cracks, creating certainty, shaping incentives for the common good. (more…)
The Bank of England today published its first survey of banks’ liabilities.
In order to meet its monetary and financial stability objectives, it is important for the Bank of England to understand developments in monetary and credit conditions. (more…)
Speaking to the Asian Business Association and Chinese Business Association of London Chamber of Commerce and Industry, Spencer Dale (Executive Director and Chief Economist at the Bank of England) sets out his views on the objectives of monetary policy. In particular he looks at the flexibility of monetary policy to support growth and employment as well as to control inflation. (more…)
Bank of England maintains Bank Rate at 0.5% and the size of the Asset Purchase Programme at £375 billion.
The Bank of England’s Monetary Policy Committee today voted to maintain the official Bank Rate paid on commercial bank reserves at 0.5%. The Committee also voted to maintain the stock of asset purchases financed by the issuance of central bank reserves at £375 billion. (more…)
At last month’s Inflation Report press conference, Bank of England Governor Mervyn King said that there were limits to what monetary policy can achieve. (more…)
Bank of England and HM Treasury Funding for Lending Scheme: 2012 Q4 usage and lending data.
The Bank has today published updated data on the use of the Funding for Lending Scheme (FLS). Today’s publication shows for each group participating in the FLS the amount borrowed from the Bank and the net quarterly flows of lending to UK households and businesses for the fourth quarter of 2012. (more…)
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UK inflation is the exception
Tuesday, May 21st, 2013Today’s latest inflation figures confirmed what many people already knew: the cost of living is still rising at a faster pace than the Bank of England’s 2% target. CPI inflation may have eased back to 2.4% in the twelve months to April, but it has now been above target since November 2009. (more…)
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