Tag: Bank of England
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Gulf central banks, Bank of England raise policy rates after Fed hike
The central banks of five Persian Gulf states raised policy rates on June 15 following the Federal Reserve’s 75 basis point hike the same day. The central banks of the United Arab Emirates, Qatar and Bahrain made 75bp increases to their reference rates. This brings the UAE’s rate to 3%, Qatar’s to 2.25% and Bahrain’s…
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Andrew Bailey appointed as new Bank of England governor
Andrew Bailey has been appointed as the next governor of the Bank of England. Mr. Bailey, aged 60, is currently chief executive of the Financial Conduct Authority (FCA), the City watchdog. He will become the 121st governor of the Bank of England on 16 March, taking over from Mark Carney, and will serve a full…
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Bank of England cuts UK growth forecast
The Bank of England has cut its forecasts for UK growth over the next two years. It also warned that a no-deal Brexit would hit the economy and trigger a further drop in the value of the pound. The Bank left interest rates unchanged at 0.75% against a backdrop of weaker global growth and ongoing…