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
Bank of England deputy warns furlough billions are ‘no free lunch’ and says consumer spending during Covid pandemic is being ‘funded by tomorrow’s taxpayers’ Government has increased spending by almost £300bn due to the pandemic Support has ranged from furlough scheme to Universal Credit £20 top-up Bank of England deputy governor Ben Broadbent warned it … Read more
Bank of England boss Andrew Bailey says the UK’s unemployment rate is WORSE than official figures suggest – as he warns the depth of the second wave of coronavirus will delay the economic recovery UK’s jobless toll is officially 4.9% but he believes the true level is around 6.5% Bank governor addressed the Scottish Chambers … Read more
BREAKING NEWS: Arsenal take out a £120m loan through Bank of England’s Covid scheme to help them cope with the impact of the pandemic – despite splashing out £45m on one player in October and paying Mesut Ozil £350k-a-week but not playing him Arsenal announced they have borrowed £120million from the Bank of England … 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