The Bank of England pledged a huge financial backstop to calm plunging markets after Britain voted to leave the EU and central banks around the globe intervened in markets, highlighting worries that volatility could quickly hit the world economy
The Bank of England plans to assess the implications of a possible British exit from the European Union, it said in a statement, confirming an email it inadvertently sent to a newspaper about the supposedly confidential research project.
Britain's annual rate of consumer price inflation fell below zero for the first time in more than half a century, official figures showed on Tuesday, though Bank of England Governor Mark Carney said the dip was likely to be brief.
Britain could become the first major economy to tighten monetary policy since the 2008 financial crisis, Bank of England governor Mark Carney has signalled, sending sterling shooting towards a five-year high against the dollar yesterday.
Britain's banking regulator has relaxed a new rule determining the quality of assets banks must hold to cover risks from pension liabilities.
The Bank of England's Prudential Regulation Authority (PRA) had proposed that al
British manufacturing grew much more strongly than expected in June, suggesting the country's recovery is broadening just as the Bank of England prepares to set out its plan for steering the economy back to health.
The Bank of England warned banks and borrowers on Wednesday they may be vulnerable if there is an abrupt rise in global interest rates which could require lenders to bolster their capital cushions again.
Global bond yields have ju
Bank of England (BoE) governor Mervyn King, making probably his final public comments before retiring, accused British banks of lobbying senior politicians to undermine a new system of financial regulation.
King said some banks ha
Bank of England (BoE) deputy governor Paul Tucker, beaten to the central bank's top job by Mark Carney, will stand down later this year, giving the Canadian an early chance to help reshape the BoE's upper echelons.
British manufacturers are increasingly turning away from external funding to grow their businesses, a survey has found, despite tentative signs that the cost of credit is easing.
Nearly 52 per cent of companies polled by manufactu