Bank of england Stories
UK Economy May Not Recover For Another Three Years: King
Britain will endure at least another three years of economic weakness before it can stabilize, warned the governor of the bank of England, Sir Mervyn King.
Bank of England Doves Have Upper Hand While ECB Will Press On With July Rate Hike
The Gold Price continued to hold steady Thursday morning, trading in a tight range around $1536 per ounce - 2.6% off last month's spot market all-time high - while stocks and commodities gained ahead of UK and Eurozone interest rate announcements.
Gold Dips As Euro & Pound Rise, UK Has No Inflation Problem Says Cabinet Minister
Silver Prices handed back most of Wednesday's gains, dropping 6% inside three hours before hovering around $37 per ounce.
Deutsche Bank investors, protestors seek answers
Chief Executive Josef Ackermann struggled to make himself heard as protestors outside and shareholders inside vented their anger over Deutsche Bank's leadership vacuum, legal issues and business practices.
Spot Gold's Uptrend at Risk But Physical Buying Strong
Spot Gold prices rallied against all major currencies on Wednesday morning, hitting $1491 per ounce and rising 1.2% from yesterday's eight-day low as stock and commodity markets also gained.
Gold Bullion Still Poised for New Records as UK Inflation Jumps
Gold Bullion prices were little changed below $1500 per ounce on Tuesday morning, but fell for non-US investors as the Dollar eased back on the currency market and European equity markets cut their earlier losses.
Price to Buy Gold Hits 1-Week High, Silver Regains 1/3rd of 30% Plunge
Gold rallied to one-week highs at $1526 per ounce in Wednesday morning trade - a gain of 4.3% from last Friday's low - before falling back as world stock markets also cut their rally. Silver has now regained a third of its losses since falling over 30% from a 31-year peak of $48.70 at the end of April.
Silver Extends 24-Year Record Plunge, as Weak ECB and Bank of England Rates Favor Precious Metals
Commodity prices fell once again, and Silver Bullion sank for the fourth day in succession, losing 22.5% against the Dollar since Thursday last week - the sharpest plunge since April 1987.
UK inflation drops in March, first time in 8 months; sterling too falls
Consumer prices in Britain slowed for the first time in eight months in March, dampening expectations over interest rate hike by the Bank of England in the near term.
There will be no New Gold Standard, Part II
Backing money with gold isn't the problem for the legion of policy-makers and economists running the official monetary system. Raising interest rates is.
Pay attention to Switzerland’s inflation spike
Swiss inflation in March spiked to 0.6 percent month-to-month and 1 percent year-on-year, higher than the expected 0.5 percent and a reading of 0.5 percent in February.
UK economy contracted less than estimated in fourth quarter
The UK economy contracted less than previously estimated in the fourth quarter last year, as services and manufacturing output was revised higher.
BOJ needs to do much more: Nomura
The Bank of Japan (BOJ) should be much more aggressive, said Paul Sheard, global chief economist of Nomura Securities.
Gold Price Hits 2-Week High as Euro Debt & Tail-Risk Concerns Return
The Gold Price rose sharply against all major currencies on Wednesday, touching near-two-week highs against the Dollar even as the US currency rose amid fresh European debt and budget concerns.
UK factory orders rose sharply in March
The UK factory orders rose to a three-year high in March as strengthening domestic demand boosted manufacturing output in the country.
UK inflation rose more than expected in Feb
Consumer prices in Britain rose more than expected in February, strengthening speculation over interest rate hike by the Bank of England (BoE).
Gold draws Enormous Interest in Asia as China's New Year Imports Surge
A net importer of Gold despite now being the world's No.1 mining producer, China saw 200 tonnes of demand during Jan. and Feb. according to an estimate from Swiss bank and bullion market-maker UBS.
BoE keeps rates unchanged at 0.5 pct despite high inflation
The Bank of England (BoE) on Thursday kept interest rates unchanged at 0.5 percent again, even though inflation remained above the central bank’s target of 2 percent for a fourteen consecutive month in January.
Gold Price Hits New Record-High vs. Falling Dollar as Libya's Civil War Spreads
The Gold Price rose new all-time highs vs. a falling US Dollar on Monday morning in London, hitting almost $1445 per ounce as European stock markets held flat and major-economy government bonds slipped, nudging interest rates up.
For Britain's class of 2011, finance keeps allure
Investment bankers have been villified by the public since the financial crisis, and regulators are cracking down on their pay, but Britain's university graduates still aspire to become them. At the country's top universities, the generation of students who started their degree just as Lehman Brothers collapsed are still pursuing lucrative
Fed officials argue easy-money policy should stay
The U.S. Federal Reserve is right to carry on with its cheap money policy to fight high unemployment, but policymakers must stay on guard for signs of inflation, two top Fed officials said on Thursday. Atlanta Fed President Dennis Lockhart, speaking in Tallahassee, Fla., said the Fed should stay vigilant for any rise in inflation
LSE director quits over links to Libya and Gaddafi
The director of the prestigious London School of Economics (LSE) has quit over the school’s connections to Libyan leader Moammar Gaddafi.
Gold & Silver Bullion Knocked Hard by Trichet'sVigilant ECB Rate-Hike Threat
Gold and Silver Bullion prices fell sharply London lunchtime on Thursday, bouncing 1.5% and 2.3% below this week's record Dollar highs after European Central Bank president Jean-Claude Trichet said a Eurozone rate rise is possible next month.
Gold rises above $1,410/oz on Mideast tensions
Gold rose to $1,413 an ounce in Europe on Monday as turmoil in the Middle East region lifted safe-haven buying and fueled a fresh spike in oil prices, stoking concerns over U.S. growth and knocking the dollar.
Inflation Debate Rages in UK, while lone hawk retires in US
The inflation debate is raging in the UK among policy makers. Meanwhile, the only inflation hawk and dissenting voter on the Federal Open Market Committee (FOMC), Thomas Hoenig, is no longer a voting member this year.
Gold and Silver Prices Slip Amid Record Volatility in Oil on Libyan Violence and Rumors
Gold and Silver Prices failed to hold onto a sharp overnight bounce in London trade on Friday, trading below $1404 and $33 respectively per ounce as volatility in crude oil remained at record levels but world stock markets rose for the first day in six.
Fools, Knaves & Inflation
You can't really blame financial hacks for getting things so wrong, so often. Because every financial decision you now make is a speculation on interest rates. And so pretty much every story a financial journalist might choose to write must start and end with the same speculation, built on the inaction of each monthly central-bank vote.
Exports boost UK factory orders
The UK factory orders rose in February as demand for exports from the country continued to improve. Manufacturers’ total order book balance in Britain rose to -8 in February from -16 in January, the Confederation of British Industry (CBI) survey showed on Thursday.
BoE forecasts pave way to rate rise, but King cautious
New Bank of England forecasts opened the door on Wednesday for interest rates to rise slowly in Britain but Governor Mervyn King warned against jumping to conclusions about when the central bank would pull the trigger.
BoE report paves way to rate rise, King more cautious
New Bank of England forecasts opened the door on Wednesday for interest rates to rise but Governor Mervyn King warned markets not to jump to conclusions about the timing or speed of any moves.