UK Economics Correspondent, London
Andy's Feed
Aug 21, 2014
Aug 21, 2014
Aug 20, 2014

BoE looks at shifting money market operations from crisis settings

LONDON, Aug 20 (Reuters) – Bank of England policymakers have
started to discuss how to end crisis-era measures which pegged
overnight money market rates to the central bank’s official
interest rate, the BoE said on Wednesday.

The news of high-level discussions about reforms to the
central bank’s money market operations – crucial to the way it
implements monetary policy – came in policy minutes which also
showed that two BoE officials broke ranks to vote for higher
interest rates this month.

Aug 20, 2014

Bank of England splits over rate hike for first time in three years

LONDON (Reuters) – Bank of England policymakers have broken ranks over interest rates for the first time in three years, with two of them unexpectedly voting to tighten policy, in a move that revives speculation about a 2014 rate hike.

Martin Weale and Ian McCafferty – external members of the BoE’s nine-member Monetary Policy Committee – voted to raise interest rates to 0.75 percent from 0.5 percent, according to minutes of the MPC’s Aug. 6-7 meeting released on Wednesday.

Aug 20, 2014
Aug 19, 2014

UK inflation falls more than expected, reduces chance of 2014 rate rise

LONDON (Reuters) – British inflation eased more than expected in July and the pace of house price growth slowed in June, according to data that underscored the Bank of England’s message that it is in no rush to hike interest rates.

Consumer prices rose 1.6 percent on the year in July, the Office for National Statistics said on Tuesday, down from a five-month high of 1.9 percent in June.

Aug 17, 2014

No Fed fireworks, but plenty of clues, expected at Jackson Hole

LONDON (Reuters) – Flashes of illumination rather than fireworks are expected at this week’s annual meeting of top central bankers and economists in Jackson Hole, Wyoming.

Few predict anything so momentous as the speech by Federal Reserve chairman Ben Bernanke two years ago that paved the way for an unprecedented $85 billion per month stimulus plan.

Aug 14, 2014
Aug 13, 2014
Aug 13, 2014