Bank of England

Mortgage approvals hit fresh high But Business lending Slump grows Deeper

Mortgage approvals hit fresh high But Business lending Slump grows Deeper The Bank of England says that the number of mortgage approvals made to UK home buyers has grown to a six-year high.

A total amount  worth STG11.1 billion ($A20.6 billion) for a number of 70,758 loans were approved for house purchases in November, which marked the highest total seen since 72,004 loans that were given the green light in January 2008.

Further sterling strength may hurt recovery warns Bank of England

Further sterling strength may hurt  recovery warns Bank of EnglandThe Bank of England said on Thursday, Britain's economic recovery may be at risk if sterling strengthens much further, in its first noteworthy hint of apprehension about the British currency's current rise.

Economic outlook to be upgraded by Bank of England

Economic outlook to be upgraded by Bank of EnglandThe Bank of England is expected to raise its outlook for the UK economy and job prospects when it comes out with its quarterly inflation report today.

The policy makers pledge that they will not consider lifting rates above the current historic low of 0.5% until employment rate has reached 7%.

No changes likely to happen on policy for Bank of England

No changes likely to happen on policy for Bank of EnglandAs Britain struggles to recover from the economic slump, The Bank of England kept its key interest rate at a record low level of 0.50 percent on Thursday.

The BoE mentioned in a statement at the conclusion of a two-day meeting "The Bank of England's Monetary Policy Committee today voted to maintain the official bank rate paid on commercial bank reserves at 0.5 percent,"

Bank of England to Channelize Help to Purchase a Scheme

Bank-of-EnglandRecent updates from the Bank of England (BOE) highlights that it has been given a good amount of control by the UK government to purchase new Help to Buy Scheme.

This scheme has increased house prices and also raised issues regarding house price bubble.

BoE’s Ben Broadbent Justifies Rate Hike

Bank-of-EnglandBen Broadbent who is one of the Bank of England's Monetary Policy Committee members gave a vehement reply to the critics over central bank decision regarding hike in interest rates.

According to him, the central bank's decision to tie interest rates hike is linked to employment rates.

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