Tag Archives: Bank of England

Sterling drops to 6-month low after Bank of England Inflation Report

The British pound dropped 0.6 percent against the dollar on Wednesday to reach the lowest in six months after a dovish Bank of England Quarterly Inflation report. GBPUSD reached a low of $1.5533 in the London session shortly after the 1.30GMT publication of the report and accelerated a decline in reaction to a press conference by BOE Governor Mervyn King who spoke of the slow UK economic...

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February 13, 2013 @ 2:13 pm

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Mark Carney discusses future of Bank of England

Mark Carney faced a question and answer period in front of the UK parliamentary Treasury Select Committee on Thursday. He discussed his upcoming position as governor of the Bank of England and his view on the central bank’s monetary policy. He succeeds current governor Mervyn King on July 1st. Below are some comments: On changing policy: "The benefits of any regime change would have to...

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February 7, 2013 @ 12:13 pm

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Bank of England sees slow growth in UK economy for 2013

The Bank of England Monetary Policy Committee (MPC) voted 8 to 1 not to expand its asset purchase programme, currently at 375 billion pounds, according to the minutes of the December 5 policy meeting. The MPC also voted unanimously to leave interest rates unchanged at a record low 0.5 percent. Despite a sluggish economy, the MPC is reluctant to expand QE since this usually causes higher...

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December 19, 2012 @ 2:14 pm

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Sterling hits highest since late September against dollar

Sterling hit its highest in more than two and a half months against the US dollar on Tuesday after CPI data showed that inflation in the United Kingdom is still stubborn. This makes it more likely for the Bank of England will avoid further easing for now. Monetary easing tends to weaken a currency. So if the BOE refrains from such a move this is positive for the British pound for...

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December 18, 2012 @ 9:48 pm

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