Britons have revealed how they are spending some of their £150billion in extra savings amassed during the lockdown as the pandemic stopped them from splashing out on expensive holidays and nights out. Families built up their bank deposits from £1.48trillion to £1.63trillion over the course of 2020 – a rise of £151.7billion, the highest since … Read more
The Bank of England slashed its growth forecast for this year today but voiced hope that the rapid vaccine rollout will spark a strong recovery after June. In its latest Monetary Policy Committee report, the Bank reduced its estimate for economic growth for 2021 from 7.25 per cent to 5 per cent. It said an expected … Read more
Britons have saved £150bn during Covid-19 pandemic… now experts urge us to splash out when the economy reopens to breathe life back into the country Britain’s ‘involuntary’ savers squirreled away more than £150billion last year Families built up their bank deposits from £1.48trillion to £1.63trillion in 2020 Bank economist Andy Haldane hopes war chest will … Read more
Inflation rose from 0.3 per cent to in 0.6 per cent in December putting more pressure on families with clothes and travel costs rising By James Tapsfield, Political Editor For Mailonline Published: 07:10 GMT, 20 January 2021 | Updated: 07:13 GMT, 20 January 2021 Inflation rose to 0.6 per cent in December as clothes and … Read more
We must not sign Brexit deal for the City if it leaves financial industry as EU ‘rule-taker’, Bank of England boss Andrew Bailey warns Andrew Bailey warned UK can’t pay ‘any price’ for financial services agreement The Bank of England governor warned against EU ‘rule-taker’ deal for the City City firms were largely left out … Read more
Mortgages reach a 13-year high: More than 100,000 loans for house purchases got the go-ahead in November, marking highest monthly figure for more than three years Some 105,000 loans for house purchases got the go ahead, the BoE said This was up from 98,300 in October and marked the highest monthly figure since August 2007 … Read more
ALEX BRUMMER: Why Andrew Bailey’s bid to calm the storm around £237m savings scandal could cause MORE trouble By Alex Brummer for the Daily Mail Published: 00:29 GMT, 19 December 2020 | Updated: 00:32 GMT, 19 December 2020 The choice of Andrew Bailey as governor of the Bank of England in December 2019, just days … Read more
Bank of England chief Andrew Bailey tried to remove his name from a damning report into a £237m savings scandal – as MPs call for a full inquiry Andrew Bailey ran the Financial Conduct Authority until March He was named and shamed in probe into watchdog’s handling of London Capital & Finance disaster Scandal saw … Read more
Families built up £100billion of ‘excess savings’ in lockdown and are already spending it, a senior Bank of England official has claimed. A nationwide spending spree could help the economy to recover more quickly than forecasters have predicted, the Bank’s chief economist Andy Haldane said. In an exclusive interview with the Mail, Mr Haldane said … Read more
The Bank of England should investigate where around £50billion of ‘missing’ banknotes is ‘stashed’, a committee monitoring the effectiveness of public spending has said. The Public Accounts Committee said the Bank needs to ‘get a better handle on the national currency it controls’. It said authorities have been behind the curve in ensuring access to … Read more