The Bank of England will leave interest rates on hold until the second quarter of 2011 as government spending cuts increase the risk of a double-dip recession, the British Chambers of Commerce said. Economic expansion may average 2 percent in the next five years, lower than the 3 percent average...

The minutes of the Monetary Policy Committee meeting of the Bank of England showed on Wednesday that eight members voted to retain the interest rate at a record low of 0.5%, while Andrew Sentance sought a 25 basis point hike. The meeting was held on August 4 and 5. "For one member, the balance of...

June saw further signs of cooling in the housing market , with Bank of England data showing the number of mortgage approvals fell on the month, coming in weaker than analysts had expected. The BOE's data also showed consumers paying-down unsecured borrowing and weak growth in the BOE's favoured ...

Bank of England Monetary Policy Committee members are united in the belief that judging the correct setting for monetary policy at present is fraught with difficulty. Clear downside risks threaten the international economic recovery while elevated inflation expectations at home are troubling and...

The UK Treasury Select Committee has launched an investigation the government's proposed reform of financial regulation. The committee said it would seek written evidence of how the BOE Financial Policy Committee will work. Under the proposals, the FPC will be able to deploy a potential array of...

UK banks have bolstered their capital and liquidity buffers but they still face a tough refinancing challenge, according to the Bank of England's Financial Stability Review. The major British banking groups will have to accelerate their refinancing in the second half of this year and next year, ...

The spike in UK inflation rate largely reflects temporary effects and should moderate once the impact of these start to wane, Bank of England Chief Economist Spencer Dale states. In the foreword to the BOE's latest Quarterly Bulletin, Dale adds that - if the CPI surge causes inflation expectatio...

The Bank of England kept its bond- stimulus program in place and left its benchmark interest rate at a record low to aid the economy as Prime Minister David Cameron prepares the biggest budget cuts since at least the early 1980s. The Monetary Policy Committee, led by Governor Mervyn King, left t...

Lending to British firms contracted in March due in part to weak corporate demand, and major banks approved fewer mortgages in April, figures from the Bank of England showed on Friday. The total stock of loans to British businesses dropped by 3.2 billion pounds in March after edging up by 0.5 bi...

The outlook for private sector employment appears relatively stable, with most large-scale redundancy programmes having been completed, the Bank of England's Agents said in a report published Wednesday. The agents found hiring intentions were marginally stronger in the professional services and ...