Bank of England

Banks under pressure to pass on rate cut

Fri, 09 Jan 2009 06:59:04 GMT

Pressure is growing for all lenders to pass on the 0.5 per cent cut in interest rates.

Bank slashes rates to historical low

Thu, 08 Jan 2009 22:29:17 GMT

The Bank of England has slashed interest rates to 1.5 per cent, the lowest level in the Bank's 315-year history.

Bank mulls historic rate cut

Wed, 07 Jan 2009 22:38:12 GMT

The Bank of England is holding an historic meeting which is likely to see interest rates slashed to an all-time low.

Record drop in inflation predicted

Thu, 11 Dec 2008 11:49:13 GMT

A Bank of England survey has predicted a record fall in inflation over the next year.

HSBC to increase mortgage lending

Mon, 08 Dec 2008 12:42:17 GMT

HSBC is to increase lending to UK homeowners by 20 per cent, providing up to £15 billion next year.

Banks urged to pass on rate cut

Fri, 05 Dec 2008 19:43:18 GMT

Mortgage lenders are being urged to pass on the interest rate cut in full - while one nationalised bank fails to do so.

Bank slashes interest rates to 2%

Thu, 04 Dec 2008 22:42:18 GMT

The Bank of England has slashed interest rates to 2 per cent, the lowest level for decades.

Another 1% cut for interest rates?

Wed, 03 Dec 2008 09:32:17 GMT

Bank of England policymakers are gathering amid growing speculation interest rates are in line for another 1 per cent cut.

Mortgage lending dives to £459m

Mon, 01 Dec 2008 09:53:37 GMT

Net mortgage lending dived by nearly 70 per cent during October to just £459 million, the Bank of England has said.

King backs Government's economic plan

Tue, 25 Nov 2008 11:59:56 GMT

The Governor of the Bank of England has backed the Government's £20 billion gamble to drag the UK out of recession.

Flurry of lenders pass on rate cut

Fri, 07 Nov 2008 20:04:21 GMT

A series of banks and building societies have announced they are passing on the shock cut in interest rates.

Mortgage approvals edge up in September

Wed, 29 Oct 2008 11:08:43 GMT

Mortgage repayments have outstripped new lending in August for the first time as speculation of a stamp duty cut froze the housing market.

Banks to face tougher regulation

Tue, 28 Oct 2008 07:18:44 GMT

The Bank of England has said in a report that the current credit crisis has cost a mammoth $2.8 trillion (£1,800bn).

Brown warns of coming recession

Wed, 22 Oct 2008 22:47:08 GMT

Prime Minister Gordon Brown has admitted Britain is likely to slip into recession as a result of the global economic downturn.

Unanimous approval for rate cut

Wed, 22 Oct 2008 08:51:43 GMT

Members of the Bank of England's Monetary Policy Committee (MPC) unanimously voted in favour of the emergency 0.5 per cent rate cut.

Brown defends soaring borrowing

Mon, 20 Oct 2008 21:30:32 GMT

Borrowing soared to a record high in September as the nation's finances came under more pressure.

Record fall for house prices

Thu, 09 Oct 2008 21:38:46 GMT

House prices fell at a record rate during the year to the end of September, losing 13.2 per cent of their value, Halifax has said.

Further credit squeeze over coming months

Thu, 02 Oct 2008 09:14:49 GMT

Banks and building societies will cut lending further to households and businesses in the coming three months, the Bank of England says.

'No hope' of imminent interest rate cuts

Thu, 25 Sep 2008 13:39:47 GMT

Imminent interest rate cuts have been dealt a blow by a voter on the Bank of England's rate-setting committee.

Bank shares soar after rescue plans

Fri, 19 Sep 2008 08:04:27 GMT

Bank shares have made spectacular gains after initiatives on both sides of the Atlantic restored confidence in the beleaguered sector.

Interest rates remain on hold

Wed, 17 Sep 2008 11:07:43 GMT

Bank of England policymakers voted to keep interest rates on hold at 5 per cent this month in the wake of soaring inflation figures.

King: 'No magic solution to lending drought'

Thu, 11 Sep 2008 14:36:41 GMT

Bank of England Governor Mervyn King warned there was no magic solution to the current lending drought.

Interest rates held at 5%

Thu, 04 Sep 2008 12:09:59 GMT

Interest rates have been kept on hold at 5 per cent despite calls for a cut to combat growing recession fears.

MPC mulls interest rate move

Wed, 03 Sep 2008 13:17:50 GMT

The Bank of England's nine-strong Monetary Policy Committee (MPC) is holding two days of talks on interest rates as recession looms.

New home loans down by 71 per cent

Mon, 01 Sep 2008 09:58:51 GMT

The number of mortgages approved for people buying homes dived by 71 per cent during the past year to hit a new record low, figures show.

MPC was 'split' over rate decision

Wed, 20 Aug 2008 10:49:47 GMT

An interest rate increase was ruled out this month because of the risk that it might make the economic downturn "unnecessarily deep."

'Recession within a year'

Mon, 18 Aug 2008 14:34:15 GMT

Business leaders have predicted Britain's economy will enter a recession in the coming year.

Unemployment jumps by 60,000

Wed, 13 Aug 2008 14:44:04 GMT

The number of unemployed has increased by 60,000 to 1.67 million, the worst for over a year.

'Record fall for house prices'

Thu, 31 Jul 2008 06:13:47 GMT

House prices are falling at a record rate, according to new figures from the Nationwide building society.

MPC was 'split' over rate decision

Wed, 23 Jul 2008 14:07:30 GMT

The majority of the Bank of England rate-setters voted to keep rates on hold but one voted for a cut, another for a rise.

Call made for UK interest rate cut

Mon, 21 Jul 2008 08:17:11 GMT

Britain needs an immediate cut in interest rates to avoid a prolonged recession.

House prices falls gaining momentum

Thu, 10 Jul 2008 21:30:05 GMT

House prices are falling at their fastest rate since the 1990s crash, Britain's biggest mortgage-lender Halifax has said.

Food prices rise by 7%

Wed, 09 Jul 2008 14:17:10 GMT

Consumers were hit with a 7 per cent rise in food prices last month according to the British Retail Consortium.

Fixed-rate mortgages hit eight-year high

Wed, 09 Jul 2008 11:02:08 GMT

The cost of a fixed-rate mortgage has soared to an eight-and-a-half year high, the Bank of England has said.

Banks expect to reduce mortgage lending

Thu, 03 Jul 2008 09:41:22 GMT

Mortgage availability will continue to fall as lenders tighten their criteria in the face of defaults.

Home loan approvals at record low

Mon, 30 Jun 2008 16:42:47 GMT

The number of mortgages approved for people buying a house has sunk to a record low, latest figures reveal.

Oil price threat to UK inflation rates

Thu, 26 Jun 2008 13:22:55 GMT

Rising oil prices could scupper efforts to keep inflation in check, the head of the Bank of Engand has warned.

'Uncomfortable' economic times ahead

Fri, 20 Jun 2008 10:39:26 GMT

The outgoing Bank of England deputy governor has added to warnings of tough economic times ahead.

Rates kept at 5%

Thu, 05 Jun 2008 11:23:08 GMT

Interest rates have been pegged at 5 per cent as the Bank of England continued its fight to keep a lid on inflation.

House price downturn gathers pace

Thu, 05 Jun 2008 09:52:41 GMT

House prices fell by 2.4 per cent in May, providing further evidence the property market downturn is gathering pace.

King warns of budget squeeze

Wed, 14 May 2008 21:34:27 GMT

The Bank of England Governor has braced households to expect a further budget squeeze.

Interest rate cut considered

Wed, 07 May 2008 12:31:27 GMT

Bank of England policymakers have begun their two-day deliberations on interest rates.

Credit crunch impact downplayed

Thu, 01 May 2008 18:14:14 GMT

The fallout from the credit crunch may not be as bad as feared, according to the Bank of England.

Bankers fury at attack on bonuses

Thu, 01 May 2008 13:49:46 GMT

Bankers in Britain have hit-back at the Bank of England's Governor after his criticism of the industry's multimillion-pound bonuses.

FTSE closes at 6053

Mon, 21 Apr 2008 17:09:22 GMT

The London market closed down 3.5 points at 6053 after the £50 billion Bank of England rescue plan failed to give blue chips a boost.

Bank of England cuts rates to 5%

Thu, 10 Apr 2008 21:21:51 GMT

The Bank of England has cut interest rates by 0.25 per cent to 5 per cent in a bid to boost the economy.

FTSE closes at 6014.8

Mon, 07 Apr 2008 16:32:00 GMT

The FTSE 100 Index rose 67.7 points to close at 6014.8.

Mortgage approvals down by 40%

Wed, 02 Apr 2008 09:45:20 GMT

The number of mortgage approvals for house purchase has fallen by nearly 40 per cent during the past year, figures have shown.

King: 'Households in for rough ride'

Wed, 26 Mar 2008 14:59:30 GMT

Households will struggle as wages fail to keep up with soaring costs of food, petrol and energy bills, the Bank of England boss warns.

BoE pumps £5bil into money markets

Thu, 20 Mar 2008 22:48:51 GMT

The Bank of England has pumped an extra £5 billion into frozen money markets.

Bank of England keeps rates on hold

Thu, 06 Mar 2008 12:58:57 GMT

The Bank of England has kept interest rates at 5.25 per cent over continuing inflation fears.

Bank of England eases pressure on borrowers

Thu, 07 Feb 2008 20:05:59 GMT

Interest rates have been cut by 0.25 per cent to 5.25 per cent by the Bank of England.

Government takes on Northern Rock debts

Thu, 07 Feb 2008 11:38:37 GMT

Northern Rock "has not been nationalised", even though billions of pounds lent to the bank have been brought onto the Government's books.

Interest rates cut welcomed

Fri, 07 Dec 2007 09:44:28 GMT

The Bank of England's decision to cut interest rates for the first time in two years has been widely welcomed.

November house prices down 0.8%

Thu, 29 Nov 2007 20:58:57 GMT

November house prices fell at their fastest rate for more than 12 years, new figures from Nationwide Building Society have shown.

N Rock: customers 'withdraw £10.5bn'

Thu, 08 Nov 2007 12:43:53 GMT

Northern Rock shares tumbled 12 per cent after reports that £10.5 billion has been withdrawn by customers from the crisis-hit lender.

Northern Rock cancels dividend payment

Tue, 25 Sep 2007 18:11:51 GMT

Troubled mortgage lender Northern Rock said it would not pay shareholders the interim dividend payment it promised in July.

King: 'I was right on Northern Rock'

Thu, 20 Sep 2007 12:12:20 GMT

Bank of England Governor Mervyn King is facing some tough questions from MPs over his handling of the crisis at Northern Rock.

Pressure remains on Northern Rock

Sat, 15 Sep 2007 17:29:06 GMT

Northern Rock is expected to remain under pressure from its customers after seeking emergency support from the Bank of England.

Northern Rock crisis hits shares

Fri, 14 Sep 2007 21:07:01 GMT

Northern Rock customers spent Friday queuing outside branches after the mortgage lender had to be bailed out by the Bank of England.

FTSE closes at 6289.3

Fri, 14 Sep 2007 16:53:38 GMT

The FTSE 100 Index has closed 74.6 points down at at 6289.3.

BoE gives banks more borrowing flexibility

Thu, 13 Sep 2007 18:34:03 GMT

The Bank of England has given banks greater flexibility on how much cash they can borrow without penalty to manage cashflows.

FTSE closes on 6363.9

Thu, 13 Sep 2007 16:38:56 GMT

The FTSE 100 Index jumped 57.7 points to close at 6363.9.

FTSE closes at 6306.2

Wed, 12 Sep 2007 16:33:21 GMT

The London market reversed losses after comments from the Bank of England fuelled hopes that interest rates had peaked.

FTSE closes on 6313.3

Thu, 06 Sep 2007 16:52:51 GMT

London's blue chips finished in positive territory after a see-saw day for the market.

Interest rate held at 5.75%

Thu, 06 Sep 2007 11:18:36 GMT

Interest rates have been frozen at 5.75 per cent by the Bank of England.

Interest rates likely to stay unchanged

Fri, 31 Aug 2007 09:41:34 GMT

Interest rates are set to remain at current levels amid new evidence that households are struggling to cope with higher mortgage payments.

Confidence in financial markets drops

Tue, 28 Aug 2007 08:19:24 GMT

Recent turmoil in the financial markets has left business confidence at its weakest level since November 2005, a report has found.

Bank hints at further rate rise

Wed, 08 Aug 2007 12:32:08 GMT

Householders already struggling with increased mortgage payments are likely to see interest rates hit 6 per cent in the next few months.

Bank keeps interest rates on hold

Thu, 02 Aug 2007 11:33:06 GMT

Interest rates have been kept on hold at 5.75 per cent by the Bank of England.

Mortgage misery as rates rise to 5.75%

Thu, 05 Jul 2007 13:44:15 GMT

Homeowners have been hit with a quarter point interest rate hike to 5.75 per cent, the highest seen since March 2001.

Action urged over 'filthy fivers'

Thu, 21 Jun 2007 13:57:46 GMT

Banks have been told they must do their bit to help Britain replace its "scruffy" old five-pound notes with brand new ones.

Bank keeps rates on hold

Thu, 07 Jun 2007 10:59:00 GMT

Interest rates have been kept on hold, giving borrowers some welcome breathing space after last month's quarter point rise.

Mortgage lenders hike charges

Fri, 11 May 2007 13:31:50 GMT

Borrowers will be charged more by mortgage lenders following the latest Bank of England interest rate decision.

Interest rates rise to 5.5%

Thu, 10 May 2007 12:12:57 GMT

Homeowners have been dealt another blow with interest rates rising to a six-year high.

Mortgage approvals begin to cool

Wed, 02 May 2007 15:55:20 GMT

Plummeting mortgage approvals in March indicate that higher interest rates are beginning to cool the housing market.

Inflation rate at ten-year high

Tue, 17 Apr 2007 12:26:02 GMT

The Bank of England has been forced to formally explain the soaring inflation rate after it hit a ten-year high.

All Angels aim to preserve composer

Tue, 17 Apr 2007 09:31:02 GMT

A vocal quartet has mounted a campaign outside the Bank of England to keep composer Elgar on the £20 note.

Gordon Brown faces new allegations

Sat, 14 Apr 2007 22:53:45 GMT

Gordon Brown is facing new allegations that he disregarded Bank of England advice when selling half the country's gold stocks.

New banknote introduced to UK

Tue, 13 Mar 2007 12:31:18 GMT

Newly-designed £20 notes have hit the streets for the first time.