Bank of England Holds 5¼ Interest Rate
The Bank of England has held interest rates at 5.25% for the seventh time in a row, despite official figures showing inflation falling to the Bank’s target of 2% for the first time in nearly three years. The Monetary Policy Committee (MPC) voted to maintain the current 16-year high in Continue Reading
Bank of England Holds 5¼ Interest Rate
The Bank of England has held interest rates at 5.25% for the seventh time in a row, despite official figures showing inflation falling to the Bank’s target of 2% for the first time in nearly three years. The Monetary Policy Committee (MPC) voted to maintain the current 16-year high in Continue Reading
How Do The Banks Create Money?
Bank Reserve Deposits – How Money is ‘Really’ Created. More than 97% of all the money in the economy exists as bank deposits – and banks create these deposits simply by making loans. Every time someone takes out a loan, new money is created. Even among bankers, economists, and policymakers, there is no common understanding of Continue Reading
King Charles III Banknotes Unveiled
The design of the new English banknotes, which will include an image of King Charles III, has been made public for the first time by the Bank of England. In 2024, it’s anticipated that the new bills will start to circulate. The present banknotes bearing the image of Charles’ late Continue Reading
Why Are Wages Below Inflation?
Britons saw their average pay rise by 6 per cent between June and August, but wages still failed to keep pace with runaway inflation. The government is on course for further clashes with public servants. According to the data, regular pay was £574 in August 2022, while total weekly earnings Continue Reading
Bank of England Issues Warning on UK Financial Instability
The unemployment rate has fallen to its lowest level for decades, but pay pressures remain. Inflation is at its highest level for decades, and long-term illnesses are playing a major role another factor is the low wage earnings of workers when needing to pay for everyday goods and services which Continue Reading
