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Mortgages reach a 13-year high: More than 100,000 loans for house purchases got the go-ahead in November, marking highest monthly figure for more than three years Some 105,000 loans for house purchases got the go ahead, the BoE said This was up from 98,300 in October and marked the highest monthly figure since August 2007 … Read more
ALEX BRUMMER: Why Andrew Bailey’s bid to calm the storm around £237m savings scandal could cause MORE trouble By Alex Brummer for the Daily Mail Published: 00:29 GMT, 19 December 2020 | Updated: 00:32 GMT, 19 December 2020 The choice of Andrew Bailey as governor of the Bank of England in December 2019, just days … Read more
Bank of England chief Andrew Bailey tried to remove his name from a damning report into a £237m savings scandal – as MPs call for a full inquiry Andrew Bailey ran the Financial Conduct Authority until March He was named and shamed in probe into watchdog’s handling of London Capital & Finance disaster Scandal saw … Read more
Bank of England spent £600,000 on remote-working technology with £375 for each employee to set up home offices during Covid pandemic Figures show bank reimbursed £598,000 to its 4,447-strong workforce Up to £375 set aside for each employee to cover cost of setting up a home office Figures were published following a Freedom of Information … Read more
Families built up £100billion of ‘excess savings’ in lockdown and are already spending it, a senior Bank of England official has claimed. A nationwide spending spree could help the economy to recover more quickly than forecasters have predicted, the Bank’s chief economist Andy Haldane said. In an exclusive interview with the Mail, Mr Haldane said … Read more
The Bank of England should investigate where around £50billion of ‘missing’ banknotes is ‘stashed’, a committee monitoring the effectiveness of public spending has said. The Public Accounts Committee said the Bank needs to ‘get a better handle on the national currency it controls’. It said authorities have been behind the curve in ensuring access to … Read more
Tough coronavirus restrictions stalled UK’s economic recovery from October onwards but vaccine good news is set to boost rebound, says Bank of England chief economist Andy Haldane said ‘rollercoaster’ year will be capped with a ‘small contraction’ He said activity slowed in fourth quarter because of distancing and tiered curbs However he pointed to November … Read more
CPI inflation creeps up to 0.7 per cent putting more pressure on families as prices of food and clothing rise The headline CPI inflation rate rose from 0.5 per cent to 0.7 per cent in October Clothing and food prices were the main cause of the increase, the ONS said The rise confounded the expectations … Read more
How extraordinary that the Johnson Government, while in serious money trouble, chooses to spend billions on a vaccine against a disease which in many cases has no symptoms at all. Yet this peculiar decision is a mere ripple on the surface of a much deeper problem. Britain in 2020 has many economic difficulties, but good credit. … Read more
Britain’s economy will shrink by 11% and unemployment will rise to 2.6million amid Boris Johnson’s latest lockdown, bank of England warns Governor Andrew Bailey said the Bank expects the economy to shrink again He said economic output would be 11% lower at end of the year than at the start Added that unemployment would rise … Read more