Archiv: Bank of England

22.09.2022 - 18:18 [ ]

Total wealth in Great Britain: April 2016 to March 2018

The total net wealth of private households in Great Britain was £14.6 trillion in April 2016 to March 2018, an increase of 13% in real terms from April 2014 to March 2016, mainly because of increases in private pension and net property wealth.

22.09.2022 - 17:02 [ ]

Bank of England lifts rates by a half-point after 5-4 vote

The Bank of England decided to lift interest rates by a half-point to the highest level since 2008 in a contested decision, as the U.K. central bank joins peers across the globe in trying to bring inflation down by quelling demand.

The vote was 5-to-4 to bring rates to 2.25%, with three members calling for a 75-basis-point hike while one voted for a quarter-point increase. It was the seventh consecutive rate hike for the U.K. central bank.

17.06.2022 - 05:47 [ ]

Bank of England und SNB: Weitere Notenbanken erhöhen Zinsen

n der Schweiz ist die Inflation allerdings wegen des starken Frankens vergleichsweise gering. Im Mai lag sie bei 2,9 Prozent. Für das Gesamtjahr 2022 wird nun nach SNB-Angaben eine Teuerung der Verbraucherpreise um 2,8 Prozent erwartet. Ohne die Leitzinserhöhung würde die Prognose „deutlich höher“ ausfallen, so die SNB.

„Es wäre fahrlässig, wenn man inflationäre Entwicklung nicht berücksichtigt“, sagte SNB-Präsident Thomas Jordan.

17.06.2022 - 05:42 [ ]

SNB vollzieht Wende – Warum heben Sie die Zinsen an, Herr Jordan?

Eigentlich sind die Notenbanken schon vor Jahren dazu übergegangen, die Finanzmärkte nicht zu überraschen. Es wurde immer angedeutet, wohin die Reise geht. Sie haben die Finanzmärkte jetzt aber doch überrascht, mit einer früheren und stärkeren Zinserhöhung als man das gedacht hätte. Ist das ein Indiz dafür, dass der Entscheid erst in den letzten Stunden gereift ist?


17.06.2022 - 05:32 [ ]

Is recession the Bank of England’s only choice?

With inflation still climbing, today the Bank of England has brought out the big guns, raising interest rates by 0.25 percentage points to 1.25 per cent – pushing the cost of borrowing to its highest since February 2009. It joins the US Federal Reserve, its cousin across the Atlantic, which yesterday raised rates by 0.75 percentage points – its biggest rise in almost 30 years.

29.07.2020 - 17:16 [ ]

Venezuela darf Berufung gegen Sperrung seiner Goldreserven in Großbritannien einlegen

Am 2. Juli erkannte der Oberste Gerichtshof Großbritanniens „den Oppositionsführer Juan Guaidó unmissverständlich als Präsident an“, folgte damit der Position des britischen Außenministerium und sprach der Regierung von Nicolás Maduro das Recht auf Rückführung des Goldbesitzes der BCV ab. Seit Ende 2018 weigert sich die Bank of England, das in ihren Tresoren deponierte Gold zurückzugeben, dessen Wert auf 1,2 Milliarden US-Dollar geschätzt wird.

20.05.2020 - 03:38 [ The Guardian ]

Venezuela in bid to force Bank of England to transfer $1bn of gold

The claim follows a request Venezuela made to the Bank in April to sell part of its gold reserves there and send the proceeds to the United Nations to help with the country’s coronavirus-fighting efforts.

21.04.2020 - 23:37 [ ]

Bank of England boss Andrew Bailey warns against easing social distancing too early and says the psychological effects of a ‚false start‘ that forces Britons back into lockdown could damage economy more

– Andrew Bailey told the Daily Mail a premature end to restrictions could result in a loss of confidence
– The Bank of England governor issued the stark warning at a time of increasingly heated debate over lockdown
– It comes as ‚hawks‘ have been advocating for early easing of restrictions to save the huge costs to economy
– On the other side, ‚doves‘ argue relaxing constraints too early would be reckless and devastating for the NHS

13.02.2020 - 16:26 [ Jason Groves, Political Editor of the Daily Mail / Twitter ]

I’m told Dominic Cummings opposed the appointment of Andrew Bailey as Governor of the Bank of England. Outmaneuvered by Javid – adding to the reasons he wanted the Chancellor reined in

13.02.2020 - 16:24 [ Sebastian Payne, @FinancialTimes Whitehall correspondent / Twitter ]

Some chatter from inside the Treasury: one of the reasons Dominic Cummings was angry with Sajid Javid was the Bank of England governor. Cummings wanted Andy Haldane as the candidate most attuned to „levelling up“ but Javid managed to secure it for Andrew Bailey. #reshuffle

10.09.2019 - 17:47 [ Guido Fawkes ]

Treasury’s Remain Plot To Ensure an Anti-Brexit Governor of the Bank of England

A leaked shortlist for the next Governor of the Bank of England made its way from the highest levels of the Treasury to the pages of The Times last Saturday, and has now been followed up by an orchestrated letter signed by Remain supporting MPs. The letter is a not-so-subtle attempt to confirm the leak by making the Civil Service’s recommendation list public and therefore making it politically harder for the Chancellor to appoint a Brexiteer to the role.

24.08.2019 - 15:40 [ Spiked ]

The strangling of European democracy: The EU is the high point of an anti-democratic project that has been brewing for a hundred years.

So, while the EU might well be the apogee of constrained democracy, constrained democracy has many facets. Moreover, the model of constrained democracy existed on a national level before the EU was created. Indeed, the EU can be seen as the grotesque extension of a flawed system that was first developed within nation states after the First World War. For instance, the model of independent central banking was pioneered in Germany before being transposed to the EU much later on.

25.06.2019 - 19:35 [ ]

Boris Johnson clashes with Bank of England chief over whether Britain can strike a deal to continue free trade with EU after Brexit

In a stormy LBC interview, Mr Johnson was repeatedly challenged by interviewer Nick Ferrari to say if he was accusing Mark Carney of being wrong.

Mr Johnson insisted Britain would be allowed to use world trade laws to enjoy a period without any changes to tariffs that would endanger exports, something the Bank Governor and many others have stressed would be impossible to demand without agreement in Brussels.

20.06.2019 - 18:29 [ ]

Britische Notenbank: Zinsanhebung nur bei sanftem Brexit

Die Schweizer Nationalbank hält am expansiven geldpolitischen Kurs fest, und Japan bleibt ebenfalls bei der extrem lockeren Zinspolitik. Nur in England schien die Tendenz in die andere Richtung zu zeigen – trotz der drohenden Brexit-Gefahren. Zuletzt gab es einige Signale, die darauf hindeuteten, dass die Bank of England die Zinsen noch in diesem Jahr erhöhen werde. Denn die ökonomischen Daten sehen komfortabel aus.

20.06.2019 - 18:27 [ ]

Britische Notenbank: Zinsanhebung nur bei sanftem Brexit

Die Schweizer Nationalbank hält am expansiven geldpolitischen Kurs fest, und Japan bleibt ebenfalls bei der extrem lockeren Zinspolitik. Nur in England schien die Tendenz in die andere Richtung zu zeigen – trotz der drohenden Brexit-Gefahren. Zuletzt gab es einige Signale, die darauf hindeuteten, dass die Bank of England die Zinsen noch in diesem Jahr erhöhen werde. Denn die ökonomischen Daten sehen komfortabel aus.

28.01.2019 - 06:26 [ Reuters ]

Venezuela opposition leader urges Britain not to give gold to Maduro

Since last year Maduro’s government has been trying to repatriate gold from the Bank of England, fearing it could be caught up in international sanctions against his administration.

28.01.2019 - 06:24 [ Florentino Montalvo ‏/ Twitter ]

The venezuelan economic crisis can’t be blamed entirely on Maduro, this is standard coup procedure, to hit the economics by sanctions, create social unrest and offer a solution. Venezuela’s gold has been help in the UK that assist in getting basic needs.

26.12.2018 - 18:11 [ ]

Is the era of central bank independence over?

The fortress walls of the Bank of England project an image of solidity, stability and impregnability. It matches the reputation it has tried to build over more than 400 years for sober analysis and, in recent years, steady impartiality.

Yet its defences have been infiltrated.

04.12.2018 - 12:13 [ ]

Carney Defends BOE’s Publication of Worst-Case Brexit Analysis

The BOE’s scenarios were more extreme than the government’s, and prompted criticism from some lawmakers, who accused Carney of undermining the BOE’s credibility.

04.12.2018 - 12:09 [ ]

Treasury Committee: Tuesday 4 December 2018

Witnesses: Dr Mark Carney, Governor, Bank of England, Ben Broadbent, Deputy Governor for Monetary Policy, Bank of England, Sir Jon Cunliffe, Deputy Governor for Financial Stability, Bank of England, and Sam Woods, Deputy Governor for Prudential Regulation, Bank of England and Chief Executive Officer, Prudential Regulation Authority

Subject: The UK’s economic relationship with the European Union

01.12.2018 - 15:15 [ Jacob Rees-Mogg / ]

Theresa May’s broken promises and Mark Carney’s wild claims are damaging people’s faith in democracy

Although there has probably never been a golden age when a revered establishment was held in high regard both publicly and privately, the current position is worse than normal and continues to deteriorate.

The problem is that people are right to be distrustful, for there is an effort both to frighten and to gull them into acquiescing into a non-Brexit Brexit.

30.11.2018 - 09:13 [ ]

Critics accuse Bank of England of using its forecasts to play with politics

The Bank of England sparked a row today after publishing analysis of its ‘worst case Brexit scenario’ just 13 days ahead of a crucial Parliamentary vote on Theresa May’s deal.

29.11.2018 - 18:14 [ Spiked ]

Why the Brexit fearmongering won’t work – Elites have always tried to pit economic stability against democratic control.

The Remain campaign put economic risk front and centre – and they lost. And yet the anti-Brexit set still seem convinced that more gloomy prognostications will eventually bring Leave voters to their senses.

They’re wrong. So painfully wrong that it is hard not to put it down to pig ignorance.

29.11.2018 - 17:20 [ Spiked ]

Mark Carney’s Brexit catastrophism – This isn’t ‘forecasting’, it’s economic blackmail.

Yesterday, the UK government and the Bank of England separately presented their analyses of several different ‘scenarios’ for the UK economy after Brexit. Unsurprisingly, given the anti-Brexit prejudices in establishment circles, both conclude that the best result for us would be to remain in the EU.

29.11.2018 - 09:21 [ Sky News ]

Jacob Rees-Mogg savages ’second-tier‘ Mark Carney

(28.11.2018) Brexiteer Jacob Rees-Mogg has dismissed the governor of the Bank of England as „a second-tier Canadian politician“ who „got a job in the UK“.

29.11.2018 - 09:18 [ ]

Bank of England chief is ‚enemy of Brexit‘, says Jacob Rees-Mogg

(25.10.2017) He added: “Mark Carney is one of the enemies of Brexit. He has opposed it consistently.”

Carney, the Canadian central banker who was handpicked in 2012 for his role at the Bank by George Osborne when chancellor, warned about the economic risks of Brexit during last year’s referendum campaign.

29.11.2018 - 09:13 [ @Dessousandmore / Twitter ]

Britische Zentralbank: Ohne Brexit-Deal bricht Wirtschaft zusammen – BILD

29.11.2018 - 09:13 [ ]

Bei ungeordnetem Brexit: Bank of England warnt vor Mega-Rezession

Der Konjunktureinbruch wäre unter anderem auf zwei Dinge zurückzuführen:
– die befürchtenden Auswirkungen der Staus an den Zollstellen
– und ein Vertrauensverlust an den Märkten.

28.11.2018 - 21:17 [ n-tv Telebörse ‏/ Twitter ]

Bericht simuliert Chaos-Brexit: Bank of England zeichnet Horrorszenario

28.11.2018 - 21:08 [ Chris Giles , Economics Editor, FT / Twitter ]

My column: Politicians hoping for a TARP scenario to force Brexit through Parliament should take note of how little notice markets are taking of the BoE at the moment via @financialtimes


28.11.2018 - 20:59 [ Alex Wickham, senior political correspondent @BuzzFeedUK ‏/ Twitter ]

Surprised more wasn’t made of the Sunday Times story that No10 is planning to encourage a crash in the financial markets. Now @peston also says that’s the plan:


28.11.2018 - 20:48 [ ]

Bank of England says no-deal Brexit would be worse than 2008 crisis

Bank warns of immediate economic crash, GDP to fall by 8%, unemployment to rise to 7.5%

21.11.2018 - 19:06 [ Sebastian Payne, @FinancialTimes political leader writer ‏/ Twitter ]

@Peston reporting that the May government is „banking on“ the stock market and sterling to tank if the Commons rejects her Brexit deal on first pass – the so-called „TARP scenario“ as outlined by @rbrharrison.

21.11.2018 - 19:01 [ Alex Wickham, senior political correspondent @BuzzFeedUK ‏/ Twitter ]

Surprised more wasn’t made of the Sunday Times story that No10 is planning to encourage a crash in the financial markets. Now @peston also says that’s the plan:

21.11.2018 - 18:56 [ ]

Theresa May’s cunning plan to get Brexit deal through Parliament

But MPs would then stare into the „abyss“, she said, recognise that a no-deal Brexit would be a disaster and another referendum too risky, and would then approve the deal – perhaps slightly modified – when brought back to them a second time.

This is what ministers refer to as the „TARP model“ – as recently coined by former government aide Rupert Harrison.

For the uninitiated, TARP was the US scheme to bail out bust banks after the Crash in 2008.

21.11.2018 - 10:27 [ Washington Post ]

Bank of England preparing Brexit deal verdict next week

Bank of England Governor Mark Carney gave a guarded welcome to Prime Minister Theresa May’s Brexit deal as he confirmed the bank would deliver its verdict on the agreement next week.

Addressing lawmakers Tuesday, Carney said the withdrawal agreement would eliminate some of the uncertainty that has surrounded the British economy since the country voted to leave the EU in June 2016. It would provide businesses the platform to plan and invest.

21.11.2018 - 10:19 [ ]

Bank of England boss BACKS Theresa May’s Brexit deal, warns no deal would ‚SHOCK‘ economy

The Bank of England governor spoke to MPs on the Treasury Select Committee about the importance of there being a transition period for the UK’s divorce for the EU. Mr Carney warned that if there is no deal, then it could greatly harm the economy with the bank being unable to do much to rectify the damage. He told the committee:

12.10.2018 - 18:35 [ Reuters ]

At IMF-World Bank meetings, Powell praised as Trump calls Fed ‚crazy‘

The Bank of England governor and the head of the International Monetary Fund praised the abilities of Federal Reserve Chairman Jerome Powell on Thursday, after U.S. President Donald Trump said the Fed had “gone crazy” by raising interest rates.