Taylor, a member of the Bank of England, said the basic expectation for a rate cut this year is about 100 basis points.
1. MUFJ: UK bond yields fell as inflation data strengthened the case for the Bank of England to cut interest rates in February. Given that the recent sell-off in government bonds has put pressure on the pound, UK bond yields fell or boosted the pound. 2. Deutsche Bank: Falling inflation in the UK clears the way for the Bank of England to cut interest rates in February. Inflation may pick up later, but the recovery may be temporary and is expected to fall near the target level next year. 3. ICAEW...
The Bank of England (BoE) has announced that it will establish a "Digital Pound Lab" in 2025 to conduct CBDC innovation experiments in a sandbox environment. According to the latest digital pound progress report released by the central bank, the lab will provide a CBDC API testing platform for the private sector to explore innovative application scenarios and business models. The Bank of England said it has in-depth understanding of user requests through surveys and working groups, and the lab w...
Citi said it now expects the Bank of England to start cutting interest rates in a row in August 2025, compared with a previous forecast for May. (Jin Ten)
On January 12, 2025, Pan Gongsheng, Governor of the People's Bank of China, met with Andrew Bailey, Governor of the Bank of England, who was in China to attend the 11th China-UK Economic and Financial Dialogue. The two sides exchanged views on the economic and financial situation, financial stability, financial cooperation and other economic and financial issues of common concern. Deputy Governor of the People's Bank of China Xuan Changneng attended the meeting.
On January 12, 2025, Li Yunze, Secretary of the Party Committee and Director of the State Financial Supervisory Administration, met with Andrew Bailey, Governor of the Bank of England. The two sides had friendly exchanges on topics such as macroeconomic situation, prudential supervision, financial consumer protection, and strengthening China-UK financial supervision cooperation.
A British judge, Justice Keyser KC, has rejected an application by James Howells, an IT engineer in Newport, Wales, to recover $735 million worth of Bitcoin hard drives buried in a Newport landfill, citing environmental risks. Newport City Council has consistently refused to enter the landfill where the hard drive was accidentally discarded in 2013, and according to the BBC, the judge believes the case has "no realistic chance of success" at trial. Howells mined Bitcoin in 2009 when it cost only...
Ms Britten, deputy governor of the Bank of England, said on Thursday that recent evidence supported a gradual rate cut but that measuring the appropriate pace of easing was tricky. "Recent evidence further supports the removal of policy constraints, which I expect to continue to be phased out over time," said Ms Britten, deputy governor for financial stability and seen as a centrist on the monetary policy committee, in a speech at the University of Edinburgh. She said that at this stage "...
The Bank of England kept the base rate at 4.75%, in line with market expectations, and cut rates by a total of 50 basis points this year. Analyst Irina said it was a bold move by the Bank of England to stick to its incremental guidance. The bank's rate-setters said monetary policy would need to remain restrictive for long enough until the risk of a sustainable return of inflation to the 2% target in the medium term dissipated further.
The Bank of England kept the base rate at 4.75%, in line with market expectations. This year, interest rates have been cut by 50 basis points. The Bank of England voted 6-3 to keep the base rate unchanged at 4.75%.
U.K. interest rate futures show the Bank of England will cut interest rates by about 45 basis points by the end of 2025, and Wednesday showed a cut of about 50 basis points.
The Bank of England will announce its interest rate decision at 20:00 Beijing time today. With the haze of "stagflation" lingering, the market generally expects the Bank of England to stay put at this meeting, and the focus will turn more to guidance for the future, but it is expected to remain cautious next year. Click to see more prospects > > >
The Prudential Regulation Authority (PRA), the regulator of the Bank of England, has given companies until March next year to disclose current or future cryptocurrency risk exposures so that it can monitor stability and help shape policy. "This will inform the work of the PRA and the Bank of England on crypto assets by helping us adjust our prudential treatment of crypto asset risk exposures, [and] analysing the relative costs and benefits of different policy options," the PRA said.
Bank of England Monetary Policy Commissioner Dingra: Policy should be further relaxed.
The annual rate of CPI in the UK in October was 2.3%, compared with an expected 2.2% and a previous value of 1.70%.