Bank of England

BoE not to hike interest rates to slow housing boom

Bank of England (BoE) Governor Mark Carney on Wednesday said that the British economy was returning towards "normal" but declared that the central bank had no plans to hike interest rates in the near future.

Many analysts are of the view that BoE should increase interest rates to tackle soaring property prices.

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Weak supply set to push house prices higher

Strong demand and week supply of houses will likely continue to push property prices up in the UK, Bank of England (BoE) Deputy Governor Sir Jon Cunliffe said.

Delivering a speech in London on Thursday, Sir Cunliffe, the financial stability chief at BoE, also said that ongoing improvement in the British economy would also help push property prices up.

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Bank of England all set to withdraw £50 Houblon note from circulation

The Bank of England is finally going to withdraw the £50 banknote that carries the portrait of the central bank's first governor Sir John Houblon from circulation midnight today, April 30.

Despite the central bank's January announcement that the £50 banknote would be withdrawn, more than 50 million of the banknotes with a total market value of £2.6 billion are still circulating.

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Leading British banks to be put to tougher stress tests

Britain's leading banks will soon be put to tougher stress tests by the Bank of England as part of the government's efforts to prevent the repeat of the 2008-type economic crisis, according to a report published by Sky News.

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QE made life extremely difficult for savers, pensioners: says incoming BoE Gov.

Measures taken by the UK Government to revive the ailing economy have made life extremely difficult for savers and pensioners, but the measures like quantitative easing (QE) were necessary to save the broad economy, the incoming Governor of the Bank of England (BoE) said.

Mark Carney, who will become BoE's governor in July this year, said that all-time low interest rates have hit prudent households very hard, with pensioners among the hardest hit.

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