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Search resuls for: "David Milliken William Schomberg"


3 mentions found


☆ Bank of England is 'much nearer' to peak interest rates, Bailey says
  + stars: | 2023-09-06 | by ( David Milliken William Schomberg | David Milliken | William Schomberg | ) www.reuters.com   time to read: +3 min
Governor of the Bank of England Andrew Bailey speaks as he attends a press conference for the Monetary Policy Report August 2023, at the Bank of England in London, Thursday, August 3, 2023. "But I think we are much nearer to it on interest rates on the basis of current evidence." It is expected to raise borrowing costs again later this month, taking Bank Rate to 5.5%. In May, Bailey told the same panel of lawmakers that the BoE was "nearer" to the peak in interest rates. After that, the central bank increased Bank Rate in June and in August.
Persons: Bank of England Andrew Bailey, Alastair Grant, Andrew Bailey, we're, we've, Bailey, BoE, I've, Jon Cunliffe, Cunliffe, Swati Dhingra, Dhingra, Farouq Suleiman, Suban Abdulla, Kylie MacLellan, William Schomberg, Sharon Singleton Organizations: Bank of England, Monetary, Companies Bank of England, Treasury, Thomson Locations: London, British
☆ UK's stubborn inflation fails to fall, turning up heat on BoE
  + stars: | 2023-06-21 | by ( David Milliken William Schomberg | David Milliken | William Schomberg | ) www.reuters.com   time to read: +3 min
Economists polled by Reuters had forecast that the annual consumer price inflation rate would drop to 8.4% in May, moving further away from October's 41-year high of 11.1%. "May's CPI figures ratchet up the pressure on the Monetary Policy Committee to increase Bank Rate substantially further over the coming months," Samuel Tombs, chief UK economist at Pantheon Macroeconomics, said. Food and drink price inflation dropped slightly to 18.3% from April's 19.0%. The BoE is widely expected to raise interest rates on Thursday to 4.75% from 4.5%. After Wednesday's data, markets fully priced in interest rates reaching 6% by December - up from around a 50% chance of such a move on Tuesday.
Persons: Henry Nicholls, Samuel Tombs, Sterling, BoE, Grant Fitzner, . Paul Dales, Rishi Sunak, Jeremy Hunt, Andrew Heavens Organizations: Bank of England, REUTERS, Bank of, Reuters, Monetary, Committee, Pantheon, U.S ., National Statistics, ., Capital Economics, Bank, Fed, ECB, Thomson Locations: City, London, Britain, Bank of England
☆ Further BoE rate increase not inevitable, Bailey says
  + stars: | 2023-03-01 | by ( David Milliken William Schomberg | David Milliken | William Schomberg | ) www.reuters.com   time to read: +3 min
"Some further increase in Bank Rate may turn out to be appropriate, but nothing is decided," Bailey added. Bailey said that the economy had developed largely as expected since the BoE raised rates on Feb. 2. "Inflation has been slightly weaker, and activity and wages slightly stronger, though I would emphasise 'slightly' in both cases," he said. Bailey also highlighted how the central bank shifted its language in February, when it said further tightening would be required if there was evidence of more persistent inflation pressures. But two MPC members - Swati Dhingra and Silvana Tenreyro - voted in February to pause the rate hikes.
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