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16 Mar 21
The Bank of England is looking at “new tools” to guide the UK economy out of the crisis caused by Covid-19, according to governor Andrew Bailey.
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3 Mar 21
The newly announced UK Infrastructure Bank will offer £4bn of loan to authorities at the same interest cost as local infrastructure rates formerly offered through the Public Works Loan Board.
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2 Mar 21
Councils will gain access to £4bn worth of loans for capital projects from the new UK Infrastructure Bank - although experts have raised questions about the lending rate.
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2 Mar 21
Chancellor Rishi Sunak this week said a one percentage point rise in interest rates would add £25bn a year to the government’s debt servicing costs. So why isn’t the Treasury relieving the pressure...
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26 Feb 21
The Treasury has completed the sale of Bradford and Bingley and NRAM, formerly Northern Rock, for £5bn, after the banks were brought under government control during the financial crisis.
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5 Feb 21
The Bank of England has written to banks asking them to take measures to prepare for any future decision to cut interest rates below zero later this year.
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3 Feb 21
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2 Feb 21
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14 Jan 21
The Bank of England needs to improve its own understanding of its quantitative easing programme to improve its effectiveness, according to the bank’s internal watchdog.
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11 Jan 21
The Treasury has confirmed that its Dormant Assets Scheme is to be expanded to cover accounts in insurance, pensions, investment, wealth management and securities sectors.
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27 Nov 20
Reforms to the system of accessing Public Works Loan Board borrowing increase the importance of good decision-making by council section 151 officers, says David Blake.
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25 Nov 20
Warrington Borough Council is set to become the second local authority to launch a bond through the Municipal Bonds Agency.
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25 Nov 20
The government has reversed its October 2019 hike in the Public Works Loan Board borrowing rate and introduced a ‘ban’ on councils borrowing to raise revenue from commercial property.
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20 Nov 20
The government borrowed a record £214bn between April and October – although the figure was £77bn less than projections by the Office for Budget Responsibility.
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18 Nov 20
Monetary policy will attempt to combat long-term scarring to UK GDP from Covid-19 forecast at £40bn a year, according to a deputy governor of the Bank of England.
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5 Nov 20
The Bank of England has announced plans for another £150bn of quantitative easing, as Covid-19 impacts further on the UK’s economic recovery.
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18 Oct 20
Ratings agency Moody’s has downgraded the UK’s credit rating for the third time in eight years, citing factors including a deterioration in the quality of the government’s fiscal decision-making.
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12 Oct 20
The Bank of England has asked UK banks to assess their readiness if interest rates are reduced to zero or below.
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29 Sep 20
The UK is unlikely to see negative interest rates “imminently”, according to David Ramsden, deputy governor for markets and banking at the Bank of England.
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8 Sep 20
The creation of an infrastructure bank to help offset lost European Investment Bank funding will be crucial to economic recovery according to consultancy firm Bidwells.
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24 Aug 20
As more service users are brought into the process of designing services, funding decisions must be devolved to the local level
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24 Jul 20
The Treasury is looking into the potential of an infrastructure bank, to help offset the funding loss from European Investment Bank, according to a report.
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24 Jul 20
The financial system that emerged from separation of debit and credit in the 14th century seems to be nearing the end of its useful life, says David Kauders.
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21 Jul 20
Bank of England chief economist Andy Haldane has suggested negative interest rates could be implemented if further negative shocks are felt in the economy.
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14 Jul 20
The government may need to rethink its fiscal policy strategy to account for economic shocks happening more frequently than previously assumed, according to the Office for Budget Responsibility.