A: In Britain, Black Wednesday (September 16, 1992) is known as the day that speculators broke the pound. They didn t actually break it, but they forced the British government to pull it from the European Exchange Rate Mechanism (ERM). Joining the ERM was part of Britain s effort to help along the unification of the European…
Appropriations Committee Releases Fiscal Year 2017 Financial Services Bill Legislation will increase accountability at the IRS, target funds to the judiciary and law enforcement…
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Just a few streets away from the looming British Museum, the diminutive Cartoon Museum is easily missed but worth seeking out. Its mission is to preserve and promote British cartoon…
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Image copyright Reuters UK inflation as measured by the Consumer Prices Index was unchanged at 0.3% in February, according to the Office for National Statistics (ONS). Annual inflation…
So you may have heard recently that the Bank of England has hinted at a cut in the BofE base rate, currently at a record low of 0.5%, but what might this mean for you? When it…
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In the life of anybody financial difficulties may arise. It is in such situations that we usually turn to money lenders. There are many money lending agencies in Singapore. But…
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Money is an important part of our lives. It is difficult to imagine an adult who has absolutely no income. Most also try to have some supplies for a rainy day. But life is often…
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Usury is described in history textbooks and is studied as a concept in schools. The principle by which a money lender conducts business arose earlier than the first money or other…
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The pound fell for a second day after the Bank of England cut interest rates for the first time since March 2009, part of a suite of stimulus measures to help boost the economy. Simon Dawson by Chad Bray The Bank of England said it would cut its main interest rate to its lowest point ever and expand other measures to bolster…
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Bank Underground is a new blog written by staff at the Bank of England. Our goal is to bring more of our thinking into the public domain and to showcase our analytical and research output. We hope to contribute to the wider debate on areas that are relevant to the Bank’s work. Last year, the Bank’s Strategic Plan called for…
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The Bank of England’s monetary policy committee voted 9-0 to keep the cost of borrowing at 0.5%. Photograph: Luke MacGregor/Reuters The Bank of England goes to considerable lengths to explain its thinking. Once a quarter, it publishes an inflation report (pdf) running to almost 50 pages and the minutes of the latest meeting…
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