Bank of England Reveals UK Stress Test Results
The Bank of England has unveiled the results of its first stress testing exercise on the UK banking system, with a mixed batch of results. The eight major UK banks and building societies were studied, with the test specifically designed to assess resilience to a sudden housing market change or a rapid interest rate rise […]
BoE Boss Warns of Intervention to Control House Prices
Bank of England governor Mark Carney has suggested the Bank could act to curb mortgage lending in order to allay fears that the housing market could threaten economic recovery. Such a move would mean that people are unable to take out mortgages that are worth many times their salary when they want to purchase new […]
BoE Figures Suggest Savings are at a 40-year Low
Savers across the UK are withdrawing money at the fastest rate for almost 40 years, according to the Bank of England. The last 12 months have seen £23bn taken out of long-term savings accounts, the equivalent to £900 for every household across the whole of Britain. Many have either spent the cash or switched their […]
UK Recession Deeper Than Initially Thought
The UK is deeper in recession than originally thought, as figures from the Office for National Statistics show that the economy shrank more than previous estimates had stated.
