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29 Nov 2023 Economy

Civil Liberties Campaigners Warn Digital Pound Could Be "Detrimental" To Privacy

Big Brother Watch, a leading civil liberties campaign group, has published a report arguing that a new digital pound could be “detrimental to people’s privacy” and worry Government could use it to track people’s spending habits.

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02 Nov 2023 Economy

BSA comments on the MPC's decision to keep the Bank Rate at 5.25%

Commenting on the MPC’s decision not to change the Bank Rate from 5.25%, Andrew Gall, Head of Savings and Economics at the BSA said:

22 Sep 2023 Economy

Tory MP Warns Downing Street A Centralised Digital Currency Could Risk Privacy

A Conservative MP has written to Prime Minister Rishi Sunak to raise concerns about what a centralised digital currency could mean for privacy after the Bank of England and Treasury have discussed how one could be implemented in the future.

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21 Sep 2023 Economy

BSA comments on MPC's decision not to change the Bank Rate from 5.25%

Commenting on the MPC’s decision not to change the Bank Rate from 5.25%, Andrew Gall, Head of Savings and Economics at the BSA, said:

21 Sep 2023 Economy

Tories Welcome Bank of England's Interest Rate Pause But Warn They're "Not Out Of The Woods"

A number of Conservative MPs have welcomed the Bank of England’s decision to keep interest rates at 5.25 per cent, but claimed the central bank’s rapid increases in the Bank Rate prior to today may have damaged economic growth.

20 Sep 2023 Economy

Conservative MPs Fear For Their Seats If High Interest Rates Linger

Conservative MPs are growing increasingly nervous that interest rates remaining high could be doing serious damage to their prospects at the next general election, which is due to be called before the end of 2024.

12 Sep 2023 Economy

What You Need To Know About A Bank Of England Digital Currency

Like many major economies including the EU, US and China, the UK government and the Bank of England have been formally exploring what a Central Bank Digital Currency (CBDC) would look like and how it would work.

05 Sep 2023 Economy

Talk Of A "Digital Pound" Has Sparked Fear Among Privacy Campaigners

MPs, privacy campaigners and think tanks have expressed concerns that a digital currency considered by the Bank of England could be vulnerable to being used to monitor and programme people’s spending.

16 Aug 2023 Economy

Economists Warn Inflation Target May Be Missed Despite Recent Fall

A high rate of core inflation has triggered warnings from economists of more interest rate hikes and of the government missing its inflation target, despite a recent overall consumer price index (CPI) inflation fall.

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03 Aug 2023 Economy

Bank Rate rises by 0.25% to 5.25%

Commenting on the increase in the Bank Rate from 5.0% to 5.25%, Andrew Gall, Head of Savings and Economics at the BSA said:

03 Aug 2023 Economy

Chancellor Jeremy Hunt Admits Interest Rates Rise Won't Be "Easy" For Households

Chancellor Jeremy Hunt has said the Government will continue to stick with its plan as the Bank of England raised interest rates to 5.25 per cent in an effort to tackle inflation.

11 Jul 2023 Economy

Inflation is a profound evil – getting it under control is vital

A new generation in Britain are discovering the hardship of high inflation. For a long time we have taken price stability for granted. Occasionally one heard a suggestion that a little bit of inflation would be no bad thing. Few people can think that now.

10 Jul 2023 Economy

New Pressure Group Wants Reformed Bank of England To Stop Creating "Unlimited New Money"

A group of peers, think tanks and economic experts are set to launch a new parliamentary group focused on pressuring government to overhaul the Bank of England's current powers, including its ability to print money and buy bonds through Quantitative Easing (QE).

10 Jul 2023 Economy

Bank of England's poor inflation forecasts have caused real financial pain

For 15 years very few have had reason to think about inflation and interest rates.

22 Jun 2023 Economy

Conservative MPs Believe Bank Of England Could Cost Them Next Election

Conservative MPs are concerned the Bank of England's slow decision to raise interest rates to five per cent could cost their party next election.

22 Jun 2023 Political parties

Jeremy Hunt Insists On "Watertight" Resolve As Bank Of England Raises Interest Rates

Chancellor Jeremy Hunt has backed the Bank of England's decision to raise interest rates to five percent in an effort to tackle inflation. "The lesson from other countries is that if you stick to your guns, you bring inflation down," he said.

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11 May 2023 Economy

BSA comments on the increase in the Bank Rate to 4.5%

Commenting on the increase in the Bank Rate from 4.25% to 4.50%, Paul Broadhead, Head of Mortgage & Housing Policy at the BSA said:

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23 Mar 2023 Economy

BSA comments on the increase in the Bank Rate to 4.25%

Commenting on the increase in the Bank Rate from 4.0% to 4.25%, Paul Broadhead, Head of Mortgage & Housing Policy at the BSA said:

Top Stories: Boris Johnson To Publish Defence Ahead Of Partygate Probe, Met Police Could Be Broken Up

20 Mar 2023 Political parties

Boris Johnson’s lawyers will publish a dossier of evidence on Monday to argue he did not knowingly mislead Parliament over ‘partygate’, ahead of Wednesday’s privileges committee, which will question him on the matter.

13 Mar 2023 Economy

Treasury Made Early Hours Scramble To Avert Tech Crisis With Silicon Valley Bank Deal

It wasn't until the early hours of Monday morning that the government was able to get an emergency deal with HSBC over the line to rescue UK branch of the collapsed US-based Silicon Valley Bank (SVB).

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15 Dec 2022 Economy

BSA comments on the increase in the Bank Rate to 3.5%

Commenting on the increase in the Bank Rate from 3.00% to 3.5%, Paul Broadhead, Head of Mortgage & Housing Policy at the BSA said:

13 Dec 2022 Economy

Mortgages To Rise By £3,000 A Year, Government Says “Tide Is Turning” Against Unions, No 10 Accused Of Blocking Strikes Deal

Around four million households on fixed-rate mortgages could see their payments increase by £3,000 across 2023, the Bank of England has warned.

03 Nov 2022 Economy

Government Says Record-Breaking Interest Rate Hike Will Tackle “Enemy” Of Inflation

Chancellor Jeremy Hunt has said “inflation is the enemy” as he responded to the Bank of England’s record-breaking increase in the base interest rate.

12 Oct 2022 Economy

Leading Economists Insist Government Financial Plans Worsened Economic Chaos

Several leading economists have told MPs they believe there is "absolutely a UK component" to the current market chaos after ministers blamed global financial pressures rather than their controversial "mini-budget".