Britain is expected to choose a new central bank chief this year to succeed Canadian Mark Carney, who will step down in June 2019, three months after the country’s scheduled exit from the EU. No one has yet thrown their hat into the ring to succeed him, but there are numerous contenders.

The Bank of England’s Monetary Policy Committee (MPC) meeting last week concluded with the central bank increasing interest rates for the first time since July 2007.

Bank of England governor Mark Carney has said a transition agreement for EU withdrawal is in everyone’s interest and said it may be appropriate to raise interest rates as Brexit-fuelled inflation is set to rise further.

Bank of England governor Mark Carney has said a transition agreement for EU withdrawal is in everyone’s interest and said it may be appropriate to raise interest rates as Brexit-fuelled inflation is set to rise further.

The governor spoke during the Bank of England's 'Independence 20 years on' conference today.

The Bank of England said rapid gains in consumer credit could cause UK banks to suffer bigger losses than they are expecting if the economy weakens.

British inflation hit its joint highest level in more than five years in August, complicating the Bank of England’s job this week of explaining why it is not raising interest rates.

THE long period of monetary easing appears to be coming to an end, apart from in Japan.

Britain’s economy is falling further behind a fast-recovering eurozone as firms worry about Brexit and consumers feel the pinch of rising inflation and the weak pound, the latest surveys showed.

The June 2016 vote for Brexit has slowed down the UK economy in the first half of 2017. GDP rose 0.2% in the first quarter and 0.3% in the second quarter, down from 0.5% and 0.7% in the final two-quarters of last year, Oliver Mangan.

Financial markets are not expecting any increase in UK rates in the coming 12 months despite a pick-up in inflation to 2.9%.

Households in Britain have become more worried about the outlook for their finances in the 12 months ahead as rising inflation puts a squeeze on their spending power, a new survey shows.

The Bank of England shocked financial markets yesterday when it said three of its policymakers voted for an interest rate increase, the closest it has come to raising rates since 2007, despite signs of a slowdown in the UK economy.

The UK economy performed much better than expected in the second half of last year, in the aftermath of the referendum vote in favour of Brexit.

The EU looks to be leaving the door open for a deal that could avoid some of the major downsides of a ‘hard’ Brexit, writes Oliver Mangan

Last week’s November meeting of the Bank of England’s Monetary Policy Committee (MPC) concluded in line with market expectations for no changes to policy.

A Bank of England policymaker has said he would not be surprised if the pound fell further, but that the Bank of England could overlook the effect of weak sterling on inflation, possibly for years.

The Bank of England kept interest rates on hold after last month's emergency cut, but said a further reduction was still on the cards despite signs of a bounce-back in the economy.

Sterling rose for the first time in four days yesterday as hedge funds and other large speculators cut their bets that the currency will fall for a second week before the Bank of England’s latest policy decision.

The pound fell the most in more than two weeks as Bank of England policymakers signalled further monetary easing is possible amid economic uncertainty after the UK voted to leave the EU.

As expected, the Bank of England announced a 25 basis points cut in its bank rate to 0.25% from 0.50% following last week’s meeting of its Monetary Policy Committee (MPC).

The Bank of England has slashed interest rates for the first time in more than seven years and delivered an emergency package worth up to £170bn to ward off recession following the Brexit vote.

Royal Bank of Scotland — which is owned by the UK — has told more than a million business customers that it may have to impose charges on deposits, which would make it the first British bank to introduce negative interest rates.

The Bank of England is almost certain to cut benchmark borrowing costs when it sets policy next week, but a slim majority of economists in a Reuters poll said it would hold off for now on restarting its asset purchase programme.

The July meeting of the Bank of England’s Monetary Policy Committee (MPC) concluded last week with the bank rate left unchanged at 0.5%.

London’s top-flight index rallied towards the closing bell as it was confirmed that Theresa May would be in post as prime minister by tomorrow after rival candidate Andrea Leadsom dropped out of the race.

Mark Carney’s third week managing Britain’s response to the economic shock of Brexit has begun.

Sterling rose against the euro for the second successive day and global shares rallied from week-long lows, as markets tried to assess the potential long-term damage to the economies of the UK and the rest of Europe from the decision last week of British voters to quit the EU.

As expected, the May meeting of the Bank of England’s Monetary Policy Committee (MPC) last week concluded with no changes to policy.

Bank of England governor Mark Carney revealed a Brexit vote could trigger a possible "technical recession" in the UK as he warned the fall-out could hit growth, jobs and see the pound plunge in value.

In normal circumstances, the Bank of England might be close to pumping more stimulus into Britain’s economy, given recent signs of a sharp slowdown in growth and a rise in the number of people out of work.

The pound fell for a fifth day against the dollar, its longest losing streak since January, before the Bank of England’s latest policy decision as currency traders focus on next month’s referendum on Britain’s EU membership.

UK companies are feeling the strain from the upcoming EU referendum, with a gauge of services falling to its lowest level in more than three years in April.

Sterling dropped yesterday after an extraordinary series of events, including a tweet from the Sky Television economics editor, helped pile on uncertainty for exporters ahead of the UK’s ‘in-out’ referendum on the EU in 10 weeks’ time.

Last week’s meeting of the Bank of England’s Monetary Policy Committee (MPC) concluded in line with market expectations, with no changes to policy. 

The Bank of England will keep interest rates on hold until after Britain’s referendum on EU membership, the UK’s National Institute for Economic and Social Research said as it pushed back its forecast on the timing of an increase.

Bank of England policymaker Kristin Forbes said yesterday that a slowdown in China and other emerging markets should not block a long-awaited British interest rate hike, which she said should come “sooner rather than later”.

Sterling tumbled versus the euro and reversed an advance against the dollar after the Bank of England yesterday signalled there is scope to keep interest rates at a record low as inflation weakness persists.

A Bank of England policymaker said UK interest rates need to rise “relatively soon” as wages pick up, adding to signs that support is gradually building for the first increase in British borrowing costs since before the financial crisis.

Sterling advanced yesterday approaching its strongest level in three weeks against the euro, after Bank of England policymakers said China’s slowdown hasn’t shaken their conviction that the time for the first UK interest-rate increase since 2007 is coming nearer.

A key Bank of England official has warned of the dangers of “lingering too long in the sun” with low interest rates in the latest sign that it is edging towards a hike.