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THURSDAY, NOVEMBER 26, 2009
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NEWS ABOUT: Bank of England

Bank of England stories: 32 news summaries

21 - 32 of 32 Stories | << Prev 1 2

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 Bank of England
 Cuts Interest Rate 

Bank votes quarter-point cut to 5% as  downward pressure mounts

Apr 10, 08 7:35 AM CDT
(Newser) - The Bank of England today cut its benchmark interest rate 25 basis points to 5%, reports Bloomberg, hoping to keep the nation’s economy out of recession. Despite the third cut since December, BoE’s rate remains the highest among the Group of Seven industrialized nations; policymakers have drawn fire... More »

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inflation • Gordon Brown • recession • credit crisis • Bank of England • Mervyn King • interest rate cut

 Mortgage Crisis Spreads
 Across the Atlantic 

UK housing prices plunge; chancellor acts to shore up market

Apr 9, 08 10:58 AM CDT
(Newser) - UK home prices tumbled 2.5% in February—the largest fall since the 1990s—as the International Monetary Fund warned that Britain could face a housing crisis similar to the US. British PM Gordon Brown insisted yesterday the decline was containable, but the Bank of England is now under serious... More »

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United Kingdom • housing market • Gordon Brown • credit crisis • Bank of England • Alistair Darling • housing crisis

London Bankers Drown Sorrows at Easter

As Bank of England mulls a bailout, bankers of England swill pints

Mar 21, 08 10:34 AM CDT
(Newser) - As the Bank of England mulled injecting billions more into the nation's shaky financial system, bankers in the city of London swilled pints and reflected on their state of affairs, reports the Independent. "We are meant to be at work but we've come here for some solace," said... More »

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London • Bank of England • bankers

Northern Rock: Post Mortem of a Spectacular Fall

Reckless play on global stage brought 'Northern Wreck' to its knees

Mar 20, 08 1:49 PM CDT
(Newser) - The collapse of Northern Rock, Britains third-largest lender, was "the messiest banking crisis in the Western world resulting from the global credit crunch,'' a UK lawmaker tells Bloomberg in a post mortem of the disaster. “They really screwed it up,” said one analyst of the bank’... More »

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CDO • credit crisis • Northern Rock • Bank of England • Adam Applegarth • subprime crisis • bank failure • financial crisis

Rogue Traders Bag $200M in Credit Hysteria

False emails drive down stock of UK mortgage lender

Mar 20, 08 7:46 AM CDT
(Newser) - The UK's financial regulator is probing whether malicious traders attacked the share price of the country's largest mortgage lender yesterday by spreading rumors it faced a major liquidity crisis. The Telegraph reports that HBOS saw its shares plunge 20% as an email circulated suggesting the firm was facing trouble. The... More »

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London Stock Exchange • credit crisis • Britain • Northern Rock • Bank of England • HBOS • financial crisis

Fed Pours $200B Into Global Credit Relief Push

Central banks around the world try to ease liquidity problem

Mar 11, 08 10:15 AM CDT
(Newser) - The Fed will inject huge quantities of cash into financial markets as part of a coordinated global attack on the credit crisis, Ben Bernanke announced today. The central bank will loan out another $200 billion, this time on a 28-day basis rather than overnight, the AP reports. The effort will... More »

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Ben Bernanke • Federal Reserve • US economy • European Central Bank • interest rate • liquidity • credit crisis • Bank of England • Royal Bank of Canada • Swiss National Bank • financial crisis

UK Nationalizes Northern Rock

Bank takeover marks desperate move for British ministers

Feb 17, 08 12:52 PM CST
(Newser) - British ministers plan to nationalize Northern Rock as part of a bold, desperate move to rescue the struggling bank, the BBC reports. Chancellor of the Exchequer Alistair Darling said two private bids to take over Northern Rock failed to offer “sufficient value for money to the taxpayer,” adding... More »

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Richard Branson • United Kingdom • nationalization • Northern Rock • Bank of England • Alistair Darling • Virgin Group • taxpayers

Bank of England Governor Gets 2nd Term

King reappointed despite criticism over Northern Rock

Jan 30, 08 9:40 AM CST
(Newser) - Mervyn King has won a second term as governor of the Bank of England, the Fed's British counterpart, ending months of speculation about his future. Reuters reports that King will serve at the head of the UK central bank for another five years despite the City's fury at his handling... More »

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United Kingdom • Gordon Brown • central bank • Bank of England • Mervyn King • Alistair Darling

UK Cuts Interest Rates, But EU Holds Steady

Subprime woes force first rate cut in Britain
in over two years

Dec 6, 07 7:21 AM CST
(Newser) - The Bank of England cut its benchmark interest rate for the first time in over two years today, reducing the bank rate by a quarter-point to 5.5%. The cut drove the pound down to about $2.02, its lowest in 2 1/2 months. The European Central Bank in Frankfurt,... More »

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European Central Bank • Bank of England • Mervyn King • interest rate cut

UK Bank Chief Takes Heat After U-Turn

Rescue of Northern Rock leads to calls
for resignation

Sep 20, 07 9:26 AM CDT
(Newser) - The leader of the Bank of England, the Fed's counterpart in the UK, is facing substantial pressure to resign. Only last week Mervyn King had declined to offer loans for inter-bank trading to ease credit markets, vowing to discourage the "moral hazard" of risk-taking that led to Northern Rock's... More »

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credit crisis • Britain • Northern Rock • Bank of England • Mervyn King

British Bank Rebounds as Panic Wears Off

Financial stocks see gains on Northern
Rock guarantees

Sep 18, 07 12:38 PM CDT
(Newser) - As the lines of people waiting to make withdrawals from Northern Rock bank dwindled today, the British lender’s stock rose, bringing with it other hard-hit British financials. Northern Rock's huge losses in the mortgage market sparked a sell-off, drawing emergency funds from the Bank of England. But the government's... More »

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subprime mortgages • stocks • credit market • credit crisis • Britain • Northern Rock • Bank of England

Bank of England Props Up Mortgage Lender

Northern Rock shares dive, panicking patrons

Sep 14, 07 9:12 AM CDT
(Newser) - Shares of Northern Rock fell 25% today on news that the group, Britain's fifth-largest mortgage lender, got an emergency shot of cash from the Bank of England last night. As worried customers lined up outside Northern Rock branches, the central bank's chancellor urged calm. "At the moment there is... More »

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credit crisis • FTSE • Britain • Northern Rock • Bank of England

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