BIG NEWS – SMALL REACTIONS

August 3, 2017

In the past few weeks, there have been several announcements and speeches which have great significance for the financial markets in the UK but there doesn’t seem to have been a commensurate reaction in terms of column inches. The first … Continue reading

MPC VOTES 6-2 TO KEEP BANK RATE UNCHANGED

August 3, 2017

The Bank of England’s Monetary Policy Committee (MPC) voted 6-2 to maintain Bank Rate at 0.25% and voted unanimously to continue with the programme of government bond purchases at £435 billion and corporate bond purchases at £10 billion. The decision to keep bank rate … Continue reading

MANSION HOUSE SPEECH – GOVERNOR SIGNALS HE IS MORE OF A DOVE THAN A HAWK?

June 20, 2017

The delayed Mansion House speeches were delivered this morning by the Chancellor of the Exchequer and the Governor of the Bank of England. Governor Carney appears to think that it is too early to raise the Base Rate while there remains so much uncertainty … Continue reading

GOVERNOR WARNS NEXT RATE CHANGE COULD BE DOWN – OR MAYBE UP

January 16, 2017

The repercussions surrounding the United Kingdom’s decision to leave the EU continue to dominate economic opinion and market reaction. In a speech to the London School of Economics today, the Governor of the Bank of England Mark Carney appears to … Continue reading

INFLATION RISES 1% IN SEPTEMBER

October 18, 2016

The inflation rate for September rose by 1% which is higher than expectations. The Bank of England had previously indicated that it will see through any short term rises in inflation as it steers a course to combat a serious fall in … Continue reading

BANK OF ENGLAND ACTION – “TIMELY, COHERENT AND COMPREHENSIVE”

August 4, 2016

Governor Mark Carney has outlined the reasons behind the latest package of monetary measures in response to Brexit and the expected economic downturn, describing them as “timely, coherent and comprehensive”.  The reduction of Bank Rate to a historic low of … Continue reading

BANK OF ENGLAND CUTS BANK RATE TO 0.25% AND EXPANDS QE BY £60 BILLION

August 4, 2016

So the Bank of England, as widely expected, has today cut the Bank Rate to 0.25%. Having signalled a rate cut last month but subsequently having taken no action, the MPC has backed itself into a bit of corner this … Continue reading

UK ‘FLASH’ PMIs FOR JULY DON’T MAKE GOOD READING

July 22, 2016

A special edition of ‘flash’ UK Manufacturing and Services PMIs suggest the UK is heading for recession. The research was carried out post referendum and may also reflect a hint of panic as well as falling confidence. Whether this mood continues … Continue reading

CPI INFLATION INCREASES TO 0.5% IN JUNE

July 19, 2016

CPI Inflation for June year on year has increased to 0.5% which is higher than market expectations. The impact of Brexit and the fall in sterling will undoubtedly carry inflation higher still, with some forecasts showing a rise to 3% … Continue reading

CHAPS AND CREST EXTENDED SETTLEMENT DAY

June 20, 2016

The Bank of England has announced that following successful testing in RTGS on Saturday 18th June, the extended CHAPS and CREST settlement day will be implemented as planned from today, Monday 20th June 2016. A summary of the new timetable … Continue reading

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  • Bank Rate

    Key Facts

    Current Bank Rate Inflation Target0.25%
    View past decisions Next due:
    2 Nov 2017
    Quantitative Easing Asset Purchase Programme Inflation Target£435 bn
    More information Next due:
    2 Nov 2017
    Corporate Bond Purchases Inflation Target£10 bn
    More information  
    Current Inflation Inflation Target3.0%
    Target 2.0% Next due:
    14 Nov 2017
  • FTSE 100

    7,516.17
    -10.80 (-0.14%)
    Day high
    7,550.44
    Day low
    7,506.31

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    RECENT NEWS

    BIG NEWS – SMALL REACTIONS

    August 3, 2017

    In the past few weeks, there have been several announcements and speeches which have great significance for the financial markets in the UK but there doesn’t seem to have been a commensurate reaction in terms of column inches. The first … Continue reading

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    Ian Mair - Chairman
    Email - itmconsulting@btinternet.com