Bank of England Unexpectedly Raise Interest Rates for First Time in Three Years

The Bank of England MPC at its December meeting voted 8-1 (Silvana Tenreyro dissented) to raise the Bank Rate from the historic low of 0.1% to 0.25%. The decision was a surprise amid a severe deterioration in the economic outlook with Omicron triggering a collapse in consumer confidence.  Inflation is at the highest rate for a decade, 5.1% in the 12 months to November, the sharpest annual incline for 10 years and well above the Bank’s 2% target.  Thw BoE … Continue reading “Bank of England Unexpectedly Raise Interest Rates for First Time in Three Years”

Bank of England Holds Base Rate at 0.10%, Upward Pressure on Inflation Expected To Dissipate

The Bank of England MPC at it’s November meeting voted 7-2 (Ramsden and Saunders dissented)to maintain Bank Rate at 0.1%. The Committee voted 6-3 (Ramsden, Saunders, Mann dissented) to maintain corporate bond purchases at £20 billion and government bond purchases at £875.   Highlights: Bank of England announced  September 23 2021 monetary policy decision Unchanged at prior 0.10% Official bank rate votes 0-0-9 vs 0-0-9 expected Bank rate vote 7-2 (Ramsden and Saunders dissented) Gilts Asset purchase target £875 bn … Continue reading “Bank of England Holds Base Rate at 0.10%, Upward Pressure on Inflation Expected To Dissipate”

Bank of England Holds Base Rate at 0.10%, UK Q3 GDP Expectations Revised Down

The Bank of England MPC at it’s September meeting voted unanimously to maintain Bank Rate at 0.1%. The Committee voted unanimously to maintain corporate bond purchases at £20 billion and government bond purchases at £875. Uncertainty around labour market outlook has increased

Bank of England Holds Base Rate at 0.15%, Target Asset Purchases at £895 billion

The Bank of England MPC at it’s March meeting voted unanimously to maintain Bank Rate at 0.1%. The Committee voted unanimously to maintain corporate bond purchases at £20 billion and government bond purchases at £875.

Bank of England Tenreyro Sees Rate Cuts and Stimulus On The Table

Bank of England’s Silvana Tenreyro said today her inclination is towards a rate cut if downside risks emerge, currently the BoE base rate is 0.75%. She added discussing the possibility of stimulus, current asset purchase target is £435 billion with a corporate bonds  £10 billion.

Bank of England Holds Base Rate at 0.75% But Saunders and Haskell Voted for Cut

The Bank of England voted 7 to 2 to maintain Base Rate at 0.75%. The asset purchase target of £435 billion with a corporate bond target £10 billion for bond purchases was voted unaminous. Brexit uncertainty overhangs forecasts.

Bank of England Holds Base Rate at 0.75%, Cuts UK Growth Rate Again

The Bank of England voted 9 to 0 to maintain Base Rate at 0.75%. The asset purchase target of £435 billion with a corporate bond target £10 billion for bond purchases was voted unaminous. Brexit uncertainty overhangs forecasts.

Who is the Next British Prime Minister and Will It Change Brexit?

British Prime Minister Theresa May has resigned from her position after the Brexit calamity reached fever pitch. Who is next for the job, and will that lead to a smoother Brexit or an exit without a deal. Boris Johnson is the big favorite with Dominic Raab next in the betting.