Francesca McDonagh, head of HSBC's retail business in the UK, is astonished over the lack of female representatives in the banking sector. She is worried about the slow progress of female reps in senior posts.
Tags: Bank of England
Global Central Banks Set to Lower Interest Rates: How Could This Impact Your Loans and Savings?
Central banks globally are set to announce interest rate changes this week, with the US expected to cut rates by up to half a point, while other countries will either hold steady or make smaller adjustments.
UK Economy Grows 0.4% in May: Official Statistics
The United Kingdom’s Office of National Statistics released the latest economic figures, which revealed that the country’s economy grew by 0.4% in May.
King Charles III Banknotes Now in Circulation Across UK
First King Charles III banknotes went into circulation, according to the Bank of England. New bank notes that bear a portrait of King Charles III, and which will enter circulation on June 5, 2024, are displayed for a photograph after having been presented to Britain's King Charles III by Bank of England Governor Andrew Bailey and Bank of England Chief Cashier Sarah John, at Buckingham Palace in London on April 9, 2024.
UK Stocks Could Plummet At 80% - Hedge Fund Manager Odey
Crispin Odey is a London-based hedge fund manager. His main hedge fund has lost about 43 percent this year. He says that U.K. stocks could crash 80 percent as the economy is shaken by a recession and greater inflation after the vote to quit the European Union.
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The British central bank has voted on Thursday to maintain a low interest rate. The uncertainties regarding and weak global trade outlook has made the committee to decide to maintain low interest rate.
The UK government and Office for National Statistics (ONS) have decided to enhance data quality. Taking central bank Governor Charlie Bean's suggestions into consideration, the British government has earmarked GBP 17 million ($24 million) investment for creating new centers of excellence.
In fear of Brexit, economists predicted British central bank will keep its interest rate low. While Bank of England Governor Mark Carney warned that Brexit will damage British financial stability.
Global stocks rose further as increased investor confidence propelled buying support. Investor confidence has been strengthened after the announcement of European Central Bank's stimulus plans and encouraging US economic data.
Bank of England has many choices to boost Britain's economy. The bank may slack its financial policy on fears that the country may exit the European Union.
Xavier Rolet, CEO of London Stock Exchange said that startup companies in United Kingdom need support to scale up. In order to make a leap from SME into a large cap business.
The UK house prices rose for the consecutive second month in January 2016. The UK property market demand is growing in the wake of lower interest rates and encouraging job growth rate. The average cost of a house in the UK was up 1.7 percent in January.
Under a supposed repatriation program, Germany is bringing back its gold reserves from the vaults of Paris and New York. Germany had stored all its bullion overseas fearing a Soviet Union attack during the Cold War. Till date, the Deutsche Bundesbank has managed to get around 366 tons to Frankfurt, which is almost half of the total reserve of 674 tons that it plans to repatriate by 2020.
Bank of England has been keeping its interest rates at the lowest point at 0.5% since March 2009. However, some signals of the interest rate upsurge will be a shock to some people in Britain.
