Markets

Bank of England holds rates but cuts growth forecasts as Brexit looms

Bank of England leaves interest rates unchanged on Thursday at the November meeting of its Monetary Policy Committee. That means the UK will remain with a base interest rate of 0.75%. Rates are widely expected to increase further in the coming years, but the next move will almost certainly not […]
Bank of England holds rates but cuts growth forecasts as Brexit looms
Markets

‘As catastrophic as the financial crisis’: Mark Carney’s warning to politicians on the impact of a no-deal Brexit on the UK economy

Bank of England Governor Mark Carney privately warned the government of the potentially dire economic consequences of a no deal Brexit. Carney reportedly told Prime Minister Theresa May’s cabinet on Thursday that a no deal Brexit outcome “could be as catastrophic as the financial crisis.” Among the consequences of no […]
‘As catastrophic as the financial crisis’: Mark Carney’s warning to politicians on the impact of a no-deal Brexit on the UK economy
Markets

Bank of England leaves rates on hold

The Bank of England left interest rates on hold at its September meeting. The bank raised rates at its previous meeting in August so was always unlikely to change policy for a second consecutive month. The base rate of interest remains at 0.75%. The bank’s decision came just two days […]
Bank of England leaves rates on hold
Markets

Bank of England hikes rates for the 2nd time since the financial crisis

The Bank of England increased interest rates for just the second time since the financial crisis on Thursday. Britain’s central bank raised its benchmark interest rate to 0.75% from 0.5%. Members of the rate-setting Monetary Policy Committee voted unanimously to raise rates. The Bank of England raised interest rates for […]
Bank of England hikes rates for the 2nd time since the financial crisis
Markets

The Bank of England is once again at war with pro-Brexit politicians

Foreign Secretary Boris Johnson takes aim at Bank of England Governor Mark Carney. Johnson questions claims from Carney that the Brexit vote has already cost Brits £900 per household. It is not the first time Carney has clashed with pro-Brexit politicians. LONDON – Foreign Secretary Boris Johnson set himself on […]
The Bank of England is once again at war with pro-Brexit politicians
Markets

Office automation is about to lead to a ‘massacre of the Dilberts’

Bank of England Governor Mark Carney warned of the risks of automation pushing workers out of low-skilled jobs, Bloomberg reported. In a speech in Canada, Carney called the phenomenon the “massacre of the Dilberts” – referring to an American comic strip featuring a tech engineer named Dilbert. Carney’s comments come […]
Office automation is about to lead to a ‘massacre of the Dilberts’