BOE holds rates with warning of a ‘way to go’ on inflation

BOE holds rates with warning of a ‘way to go’ on inflation

The Bank of England kept interest rates at the highest level in 15 years as its policy makers persisted with their higher-for-longer message despite growing market bets on a wave of cuts in 2024. The Monetary Policy Committee voted 6-3 to keep its key policy rate at 5.25% for the third consecutive meeting, according to … Read more

BoE gives 3 years to clearing houses for inspection framework

BoE gives 3 years to clearing houses for inspection framework

Mumbai: The Bank of England has provided a three-and-a-half-year time frame for three domestic clearing houses to work out an inspection framework amenable to UK norms, giving British banks an advantage over their European counterparts when it comes to handling investment flows to India. The European markets regulator in October 2022 de-recognised six domestic clearing … Read more

Bank of England holds rates after 14 straight hikes on cooler-than-expected inflation

Bank of England holds rates after 14 straight hikes on cooler-than-expected inflation

LONDON- The Bank of England halted its long run of 14 straight interest rate hikes on Thursday as the British economy slowed, but it said it was not taking a recent fall in inflation for granted. A day after a surprise slowing in Britain’s fast pace of price growth, the BoE’s Monetary Policy Committee voted … Read more

UK wages expected to feed pressure for BoE rate hikes

UK wages expected to feed pressure for BoE rate hikes

Britain‘s inflation fever may be starting to break, but data due out this week is expected to show the economy has more cooling to do before the Bank of England can change course on interest rates. Official statistics are slated to show Tuesday that wages accelerated to the fastest pace on record in July, pushing … Read more

Silicon Valley Bank collapse: No major impact on Indian banking system, say experts

Silicon Valley Bank collapse: No major impact on Indian banking system, say experts

As the fallout from the collapse of Silicon Valley Bank is starting to spread around the world, experts say the Indian banking system is unlikely to witness any major spillover effects. However, there will be some impact on the sentiment of the market. “The collapse of SVB will not have any effect on the Indian … Read more

Bank of England makes biggest interest rate hike in 30 years

Bank of England makes biggest interest rate hike in 30 years

The U.K. central bank may opt to raise rates by as much as 1 percentage point to show it is serious about tackling inflation The U.K. central bank may opt to raise rates by as much as 1 percentage point to show it is serious about tackling inflation The Bank of England has announced its … Read more

Bank of England says UK in recession as it raises interest rates to 14-year high

Bank of England says UK in recession as it raises interest rates to 14-year high

The Bank of England has raised UK interest rates by 0.5 percentage points to 2.25 per cent in an attempt to combat soaring inflation amid the cost of living crisis, the media reported. That’s the seventh consecutive increase in Bank Rate in a row, but a smaller rise than many investors had expected, The Guardian … Read more

Central banks walk inflation-recession tightrope

Central banks walk inflation-recession tightrope

Central banks have ramped up their battle against runaway inflation, a necessary remedy that could have the adverse side effect of tipping countries into recession, analysts say. Just this past week, the US Federal Reserve announced its biggest interest rate hike in almost 30 years, followed by the fifth straight increase by the Bank of … Read more

The value of values | Book Review — Value(s): Building a Better World for All by Mark Carney

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This is a very interesting book that actually tilts towards the Rawlsian principles and does not fully support unfettered market capitalism. And here, according to Carney, we all have a role to play, which includes governments and corporate leaders. To begin with, it can be said that a book which asks us to reappraise the … Read more

UK inflation more than doubles to 1.5% in April

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British consumer price inflation more than doubled in April to stand at 1.5%, up from 0.7% in March, official figures showed on Wednesday. A Reuters poll of economists had pointed to a rise in inflation to 1.4%. A jump in regulated electricity and gas bills and higher clothing prices helped to push inflation up. Core … Read more