Interest rates: 'We had to take action' says Bank of England
Video Credit: ODN - Duration: 01:08s - Published
Interest rates: 'We had to take action' says Bank of England
The Governor of the Bank of England has explained the move to increase interest rates to 0.25 per cent, despite uncertainty over the impact of the Omicron Covid variant.
Andrew Bailey said: "We have to take the action that we think will do the job to address and tackle inflationary pressure ā¦ we just have to do that I'm afraid." Report by Buseld.
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Chancellor Jeremy Hunt has welcomed the Bank of England's decision to leave interest rates unchanged, adding he would rather it didn't rush into a decision it'd later have to backtrack on. Report by Alibhaiz. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Bank of England Governor Andrew Bailey has said he is 'encouraged' by the direction of inflation, hinting borrowing costs could soon be cut if inflation is reined in. Report by Alibhaiz. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Shadow Chief Secretary to the Treasury Darren Jones has said there are a number of policy initiatives that could help bring inflation down after the Bank of England decided to leave the rate unchanged. Report by Alibhaiz. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
The Bank of England has edged closer to a cut in interest rates, with another member of its nine-person Monetary Policy Committee (MPC) voting for lower.. Sky News
Chief Cashier of the Bank of England Sarah John has welcomed the new bank notes featuring a portrait of His Majesty The King. The King welcomed Mrs John and Governor of the Bank of England Andrew Bailey to Buckingham Palace, where he was presented with Ā£5, Ā£10, Ā£20 and Ā£50 notes. These are the first notes which feature the image of His Majesty. Mrs John said it's "a great pleasure to be able to show the King what he's going to look like on the bank notes of the future." Mrs John revealed the bank notes will be released to the general public on the 5th of June. Report by Kennedyl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
The King welcomed Bank of England Governor Andrew Bailey to Buckingham Palace, who presented him with the first bank notes featuring his portrait as monarch. The portrait of His Majesty which appears on the notes is based on a portrait that was provided by the Palace to the Bank of England.
Report by Kennedyl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
The Bank of England has voted to keep interest rates unchanged, but showed what was perhaps the clearest sign in years that cuts could come in the months ahead. Bank governor Andrew Bailey said the economy is ānot yet at the pointā where rates can be lowered, but things are āmoving in the right directionā. For the first time since September 2021, no-one on the nine-person decision-making body that sets interest rates voted for an increase.
Report by Covellm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
The Labour leader has said Natalie Elphicke has made clear the Conservative Party are "out of road" and "incompetent", following her defection to Labour. Sir Keir Starmer added, "I don't think she's alone", and believes there are "many Conservative supporters and voters" who feel Labour is the "only party that can take our country forward". Report by Brooksl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Sir Keir Starmer says Labour would scrap the government's Rwanda scheme, labelling it a "waste of taxpayers' money". The Labour leader adds a new Border Security Command would help take down people-smuggling gangs in the first place. Report by Brooksl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
An ex-prisoner has been sentenced to an indefinite hospital order for killing an elderly mobility scooter rider. Lee Byer, 45, was psychotic when he stabbed 87-year-old Thomas OāHalloran in Greenford, west London, in August 2022. Mr OāHalloran, originally from County Clare, was well-known in the Greenford community. Byer, who had had a string of convictions, was released from Wormwood Scrubs five days before the killing. Mental health reports found Byer was psychotic, hearing voices, and suffering from paranoid schizophrenia. Report by Jonesia. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Rishi Sunak has said that "after a difficult couple of years", the UK has made the case that it is now the "best place" to start and invest in a business. Speaking at a PM Connect event at Siemens Healthineers factory, the prime minister added that the latest ONS figures showing a 0.6% growth in the economy gives him "enormous confidence and optimism that we are on the right track". Report by Brooksl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Rishi Sunak has said he is "encouraged" that the economy has "real momentum", after the latest ONS figures show the UK economy is has grown by 0.6% between January and March. The prime minister added "we are heading in the right direction and people will start to feel that change". Report by Brooksl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
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