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Entries tagged "Bank of England"King's splendid isolationBank of England Governor disagrees with just about everybody else as he calls for banks to be split up. U.K. government 'buys time on regulatory change'Gordon Brown's administration may delay new financial services legislation. Financial regulator fights backFSA's Adair Turner calls for more cooperation with the Bank of England. BOE's King demands bank breakupThe Bank of England governor argues for smaller banks and complains about his lack of power. Euro rate cuts: Pushing on a string?Moving aggressively if not yet effectively to mitigate the worst effects of a global recession, European central banks unleashed sweeping rate cuts on Thursday. The Bank of England cut its key rate by a full percentage point to 2%, its lowest level since the bank was established in 1694. The European central bank made the largest rate cut in its near 10-year history, lowering its key rate by 0.75 percentage points to 2.5%. ... U.K. banks may need more state aidBank of England Governor Mervyn King was the bearer of bad news Tuesday as he told a parliamentary committee that U.K. banks may need yet more government capital. Lloyds TSB Group plc, takeover target HBOS plc and Royal Bank of Scotland Group plc have already agreed to take up to £37 billion ($55.4 billion) of state aid, while Barclays plc angered institutional investors by shunning the state and opting instead to raise £5.8 billion through two pricier securities issues to Middle Eastern backers. But King says the fundraisings may not be enough. He told a Treasury Select Committee that... European central banks slash interest ratesThe largest central banks in Europe -- the Bank of England, the European Central Bank and the Swiss National Bank -- took a hatchet to their interest rates on Thursday, as all seek to stave off a recession. The Bank of England surprised markets with a far higher than expected 1.5% cut, from 4.3% to 3%. Likewise the European Union's central bank eased its rate by half of a percentage point to 3.25%, and the Swiss unexpectedly dropped their rate by half a point to 3%. ... International Bank Watch: A long train crawling up a hillWorld markets eased into the week slowly. Asian and European stocks crawled up slightly. Japanese markets were closed. The FTSEurofirst 300 index was up 0.7%. Much of the trading Monday centered around banking news. The Bank of England and the European Central Bank may slash rates on Thursday, according to CNBC. ... Euro stocks fall on recession fearsFears of a global recession swept through European stock markets Wednesday and sent the Dow Jones Industrial Average down 2.8% in early trading. ... Investors sell, ECB offers salvoAs expected, Wall Street's meltdown is hammering markets around the world. Top tagsYou have executed a tag search on Dealscape. On the left,you will find a comprehensive list of stories tagged "Bank of England." Below are the most-popular tags for Dealscape. On the right of the page you will find a search box to dig deeper into our content.
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