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SATURDAY, NOVEMBER 21, 2009
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NEWS ABOUT: Bank of England

Bank of England stories: 32 news summaries

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G20 Protest Proves More Lark Than Bite

Some London violence, but festive, 'street party' atmosphere prevails

Apr 1, 09 3:51 PM CDT
(Newser) - Several broken windows aside, the G20 protests are shaping up to be more street party than angry mob, Time reports. Unlike traditional, oft-violent British protests, this one is intended to be “a peaceful and fun street party,” organizers say. Indeed, while some anarchists chucked beer cans at cops,... More »

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London • Royal Bank of Scotland • protests • Bank of England • G20 • protesters • anarchists

UK Fails to Sell Its Top Bonds

Auction of government debt falls short,
casts doubt on Brown's call for 2nd stimulus

Mar 26, 09 6:00 AM CDT
(Newser) - Britain's central bank yesterday failed to complete its auction of government bonds for the first time in over a decade, reports the Telegraph. The auction of 40-year gilts fell short a day after the Bank of England governor warned that the country could not afford a second fiscal stimulus, as... More »

MORE ABOUT:
Gordon Brown • bonds • Bank of England • financial crisis

UK Drops Rates to 0.5%, Begins 'Printing Money'

Quantitative easing begins with $108B of new money

Mar 5, 09 6:18 AM CST
(Newser) - The Bank of England cut interest rates today by 50 basis points to an all-time low of 0.5% and began a far more drastic process: quantitative easing, or "printing money." The Times of London reports that the Bank received permission from the government this morning to spend... More »

MORE ABOUT:
United Kingdom • central bank • Bank of England • Alistair Darling • interest rate cut • quantitative easing

Bank of England Orders Its Women Into Heels, Lipstick

When in trouble, male execs turn to makeup

Feb 1, 09 7:56 AM CST
(Newser) - The battered Bank of England has ordered its female workers into heels and at the very least lipstick, igniting a firestorm of controversy. The institution, facing one of the worst economic slumps in history, took time out to hold a seminar teaching its women how to look "feminine" without... More »

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short skirt • Bank of England • lipstick • sex discrimination • office workers • makeup • high heels

OPINION

25 People Responsible
for the Crisis

Greenspan, King, and Clinton all played a role, the Guardian writes

Jan 26, 09 3:25 PM CST
(Newser) - The current recession is a wholly man-made phenomenon, the Guardian reminds us, and they’ve got the names of those responsible. Here are four from their list of 25:
  • Alan Greenspan: Fed chair for 19 years, Greenspan kept interest rates low as the housing bubble developed, backed subprime lending
... More »

MORE ABOUT:
Bill Clinton • Alan Greenspan • credit market • Bank of England • Standard and Poor • Mervyn King • George W. Bush • Phil Gramm • financial crisis • recession depression

MARKET Open

 Stocks Fall as Bank Woes 
 Trump Obama Hope 

Royal Bank of Scotland's troubles ripple across Atlantic

Jan 20, 09 9:03 AM CST
(Newser) - Any excitement on Wall Street about Barack Obama’s inauguration was drowned out this morning by worries over Europe’s banking sector, the Journal reports. The Dow dropped more than 110 points, while the Nasdaq and S&P dropped 2% and 2.2% respectively. Those tumbles track drops in Europe... More »

MORE ABOUT:
stock market • United Kingdom • Royal Bank of Scotland • Nasdaq • Dow • Bank of England • financial sector • S&P 500 • financial crisis • State Street • Regions Financial

UK Slashes Interest Rates
to All-Time Low of 1.5%

50-point cut less than business groups had hoped for

Jan 8, 09 7:10 AM CST
(Newser) - The venerable Bank of England cut interest rates today by 50 basis points, trimming them to 1.5%—their lowest since the bank's founding in the 17th century. Investors had expected the move, although business organizations had pressed for a 100-point cut. Yesterday, Britain's finance minister admitted that the recession... More »

MORE ABOUT:
United Kingdom • Britain • Bank of England • Alistair Darling • interest rate cut

MARKET Open

 Stocks 
 Go South 
 at Bell 

Dow down 150

Dec 4, 08 8:48 AM CST
(Newser) - Stocks took a modest dip at the open, amid a weak round of retail sales numbers and general economic pessimism. The Dow fell 81 points, while the S&P and Nasdaq dropped 1.3% and 1.4% respectively, the Wall Street Journal reports. Stocks started to the downside yesterday,... More »

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Dow Jones • Nasdaq • markets • retail sales • Bank of England • S&P 500 • Wal-Mart • AT&T

UPDATED

Euro Central Banks Slash Interest Rates

Bank of England drops rate to 2%, ECB to 2.5%, Sweden to 2%

Dec 4, 08 7:21 AM CST
(Newser) - The Bank of England cut interest rates a full 1% today to 2%, the lowest level since 1939, and the European Central Bank followed with a cut of 75 basis points, to 2.5%, the largest cut in its 10-year history, MarketWatch reports. Those moves came on the heels of... More »

MORE ABOUT:
global economy • European Central Bank • Bank of England • interest rate cut • financial crisis

'Race to Zero' Under Way
as Central Banks Cut Rates

With Fed at 1% and European, Asian banks trimming, no-interest loans not far off, perhaps

Nov 7, 08 12:25 PM CST
(Newser) - Interest rates around the world are falling, with no end in sight as central banks hack away at obstacles to lending and try to jump-start their economies, Bloomberg reports. With the US rate at 1%, the Bank of England yesterday cut its key figure to 3%, the lowest since 1955,... More »

MORE ABOUT:
Ben Bernanke • Federal Reserve • European Central Bank • Bank of England • interest rate cut • financial crisis

MARKET Open

 Retail Fears Drive Stocks Down 

Same-store sales weak in October

Nov 6, 08 8:51 AM CST
(Newser) - Stocks took a modest slide at the open today, thanks to dismal data from retailers. The Dow fell 57 points, while the Nasdaq and S&P dropped 1.1% and 0.9% respectively, the Wall Street Journal reports. Most retailers, with the notable exception of Wal-Mart, posted bleak same-store... More »

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stock market • Cisco • European Central Bank • retail sales • Bank of England • same-store sales • interest rate cut • retailers

UPDATED

UK Hacks Rates by 1.5% as Markets Fall; EU Trims .5%

Grimmer-than-expected economic news pummels the global economy

Nov 6, 08 6:30 AM CST
(Newser) - The Bank of England—under massive pressure to stem the red ink drowning the continent's economy—slashed its key lending rate by an unprecedented 150 basis points today, reports Reuters. The move, which set the rate at 3%, dwarfed the 75-point cut market watchers had anticipated. Moments later the European... More »

MORE ABOUT:
Barack Obama • European Central Bank • Bank of England • interest rate cut • financial crisis

MARKETS

 Dow Down 74 After Volatile Day 

Late rally evaporates after Fed confirms cut, but most of Tuesday's gains are preserved

Oct 29, 08 3:19 PM CDT
(Newser) - Volatility ruled Wall Street today as investors waffled in their response to the expected Fed rate cut, MarketWatch reports. Though the session’s final hour saw the Dow rocket to a 250-point gain in light trading, that evaporated and the Dow closed down 74.16 at 8,990.96. The... More »

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Federal Reserve • Dow Jones • General Motors • Nasdaq • European Central Bank • Bank of Japan • Bank of England • federal funds rate • S&P 500 • financial crisis

 Global Stocks Pounded, 
 Dollar Hits Record Highs 

Greenback soars to 5-year high against the pound

Oct 22, 08 5:40 AM CDT
(Newser) - Stocks in Asia and Europe dove once again today, with banks leading losses as the continuing economic downturn hit corporate profits. The Nikkei in Tokyo closed down 6.8%, and London's FTSE opened down 2.3% after the Bank of England said that the country is in a recession. Meanwhile... More »

MORE ABOUT:
pound • euro • Nikkei • FTSE • Asian stocks • Bank of England • US dollar • Mervyn King • European stocks

 Fed Joins 5 
 Central Banks 
 in Shock Rate Cut 

US, EU, UK, others offer 50-point reduction to reverse diving markets

Oct 8, 08 7:04 AM CDT
(Newser) - The Federal Reserve and five other central banks cut interest rates by 50 basis points in an emergency attempt to stem the economic effects of the credit crisis, reports Bloomberg. The move brings the American benchmark rate to just 1.5%, while the European Central Bank and the monetary authorities... More »

MORE ABOUT:
Federal Reserve • central bank • Asian markets • European Central Bank • credit crisis • European markets • Bank of England • interest rate cut

Central Banks Scramble to Feed Cash Into Markets

Biz slows as
bailout talks stall

Sep 26, 08 7:00 AM CDT
(Newser) - The world's central banks are frantically spraying money into the economy to prevent it from seizing up as the US bailout package stalls and confidence plummets, Reuters reports. The holdup in Washington has made edgy commercial banks even more inclined to hoard cash and not lend to each other—leaving... More »

MORE ABOUT:
Federal Reserve • financial markets • central bank • European Central Bank • liquidity • credit crisis • Bank of England • Libor • financial crisis

 Europe's Markets 
 Dive Despite 
 Intervention 

Central banks pump cash, but bourses tumble

Sep 16, 08 7:15 AM CDT
(Newser) - Europe's central banks pumped huge amounts of cash into markets today as stock exchanges dove and interbank lending slowed to a trickle. Just after midday in London, the FTSE 100 was down by nearly 2%, with investment banks and insurers leading declines. The Bank of England injected $35.8 billion... More »

MORE ABOUT:
Lehman Brothers • European Central Bank • FTSE 100 • bear market • European markets • Bank of England • Libor

European
Banks Loosen Purse Strings

Inject billions into markets; offer more
to keep crisis at bay

Sep 15, 08 10:02 AM CDT
(Newser) - The weekend’s storm on Wall Street has prompted Europe’s central bankers to make billions of dollars available on the cheap to global money markets as a levee against a rising flood of fresh turmoil, the New York Times reports. The European Central Bank has pledged $43 billion and... More »

MORE ABOUT:
Merrill Lynch • Lehman Brothers • European Central Bank • Bank of England • Swiss National Bank • financial crisis

Bank of England Pressed to Rein in Inflation

Food, energy prices soar, push inflation to highest rate in 16 years

Aug 13, 08 10:26 AM CDT
(Newser) - Great Britain’s inflation rate—driven by energy and food prices rising at the fastest pace in more than 20 years—is on track to hit 5% by autumn, reports the Guardian. The cost of living jumped 0.6% to a 16-year high of 4.4% last month, the largest... More »

MORE ABOUT:
inflation • core inflation • credit crisis • food prices • Bank of England

Bank of England Launches Mortgage Swap Plan

Central bank would take on $100B in mortgages

Apr 21, 08 4:00 AM CDT
(Newser) - Commercial banks will be allowed to temporarily swap some $100 billion in troublesome mortgages for securities backed by Britain's central bank under a plan announced today, the Wall Street Journal reports. The move by the Bank of England, aimed at boosting  liquidity and confidence in the banking system, follows similar... More »

MORE ABOUT:
Federal Reserve • Gordon Brown • mortgage • Bank of England • Alistair Darling • mortgage lender • consumer debt

1 - 20 of 32 Stories | 1 2 Next >>


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