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.
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.
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.
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.
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.
The government borrowed a record £214bn between April and October – although the figure was £77bn less than projections by the Office for Budget Responsibility.
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.
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.
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.
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.
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.
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.
Bank of England chief economist Andy Haldane has suggested negative interest rates could be implemented if further negative shocks are felt in the economy.
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.
With significant and unexpected swings in cashflow, a reduction in loan margins would make all the difference for councils, argues local authority treasury adviser Arlingclose's strategic director...
Councils should look into the Municipal Bonds Agency for their borrowing, and the increasing number of authorities doing so shows it has an important role to play, argues law firm Browne Jacobson's...
A London council has raised £80m for its capital investment programme through a private placement, beating the Public Works Loan Board rate despite the turbulent market disrupted by the coronavirus.
