Bank of England

Finance industry could see widespread mortgage defaults if leaseholders forced to pay for repairs

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Could cladding scandal trigger new bank crisis? Finance industry could see widespread mortgage defaults if leaseholders are forced to pay for safety repairs, MPs are warned Widespread mortgage defaults could spark a economic meltdown, expert warns It is due to cladding on buildings which could cost thousands to homeowners Expert says unaffordable bills would cause … Read more

Bank of England chief warns the EU against ‘serious escalation’ of post-Brexit row over City firms

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Bank of England chief Andrew Bailey warns the EU against ‘serious escalation’ of post-Brexit row over City firms, warning that its attempts to force them to relocate in the eurozone would be of ‘dubious legality’ Andrew Bailey faced MPs on the Treasury Committee this afternoon Europe’s top banks asked to justify why they should be … Read more

Princess Eugenie set to give newborn son middle name Stamp

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Princess Eugenie is set to give newborn son middle name Stamp in honour of 19th century Governor of the Bank of England Princess Eugenie gave birth to baby boy on Tuesday at Portland Hospital The 30-year-old is yet to announce the name of the lad, 11th in line to the throne It has been suggested … Read more

Double-dip recession fears ease as economy grew 1% in fourth quarter

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The UK looks set to avoid a double-dip recession after it was announced today that the economy stayed in positive territory in the final quarter of 2020.  GDP grew by 1 per cent in the fourth quarter, better than some experts had expected. There have been fears that another recession is looming, after the historic … Read more

Bank of England chief economist predicts Britain will roar back with spending boom

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Britain’s economy will bounce back like a ‘coiled spring’ once liberated from lockdown, a Bank of England boss says today. In an exclusive article for the Daily Mail, chief economist Andy Haldane insists the public are ‘desperate to get their lives back’. He believes a ‘decisive corner has been turned’ thanks to the Covid-19 vaccine … Read more

Britons have saved £150bn during Covid-19 pandemic.

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Britons have saved £150bn during Covid-19 pandemic… now experts urge us to splash out when the economy reopens to breathe life back into the country Britain’s ‘involuntary’ savers squirreled away more than £150billion last year  Families built up their bank deposits from £1.48trillion to £1.63trillion in 2020   Bank economist Andy Haldane hopes war chest will … Read more

Foreign-owned firms borrowed hundreds of millions in cheap Government loans

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Giant foreign companies have handed billions of pounds to their wealthy investors after taking out cheap Covid loans backed by the British taxpayer, a Mail on Sunday investigation has uncovered. Our probe found more than £5 billion of payments to shareholders by firms that had borrowed vast sums from the Bank of England. The US … Read more