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Tag: Bank of England

Bank of England peaks borrowing cost to 4%
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Bank of England peaks borrowing cost to 4%

Christian George The Bank of England has again raised borrowing costs for the 10th time in a row up to four per cent on Thursday. This was made known a day prior to when US Federal Reserve slowed the pace of its rate hikes with a smaller quarter-point move. The European Central Bank looks set […]

Pound falls more than 1% after BoE move
Economy

Pound falls more than 1% after BoE move

The British pound sank Thursday by more than one per cent against the dollar after the Bank of England intervened in the bond markets to head off a fresh financial catastrophe. Sterling slid as low as $1.0763 in early morning London deals one day after the BoE snapped up long-dated government bonds, or gilts, to […]