Bank of England

Inflation Higher in October

Inflation Higher in OctoberConsumer Price inflation registered a rise during October mainly due to higher food prices and university tuition fee hike. The Office of National Statistics report shows 2.7 per cent rise in annual inflation during the past month.

University fees increased by 19.7 per cent compared to previous year. The hike in fee has resulted in 0.32% in overall inflation.

Cash from Bank of England to be transferred to Whitehall

Cash from Bank of England to be transferred to WhitehallIt has been reported that the cash at Bank of England would be used for reducing the government's borrowing. The cash from the Bank of England would be transferred to Whitehall. The money thus transferred would be returned to the Bank of England later on.

Bank of England to revise its previous growth forecast

Bank of England to revise its previous growth forecastThe Bank of England is going to lower its forecast of the economic growth in the UK but at the same time it would raise its expectation for the inflation rate while publishing the quarterly inflation report in the upcoming days.

Bank demote growth outlook

Bank-of-EnglandOn Wednesday the Bank of England modified down its predictions for UK GDP development over the next only some years and at the moment anticipates the inflation to be over aim waiting well into the year 2012.

The inferior development forecasts sways in as global development has depicted the signs of sluggish and in the countenance of the issues in Europe.

OECD Suggests Bank of England to Raise Interest Rates

OECD Suggests Bank of England to Raise Interest RatesOrganization for Economic Cooperation and Development has indicated in a new report that the bank has been suffering an inability of preserving the credibility due to the ever rising prices.

As the inflation has crossed the official target of 2%, the bank needs to elevate its rates by the end of this year and to at least 3.5% by the end of next year, added OCED.

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