LONDON (AP) — Codebreaker and computing pioneer Alan Turing has been chosen as the face of Britain's new 50 pound note, the Bank of England announced Monday.
BERLIN (AP) — The German government says it hasn't decided who it wants to succeed Christine Lagarde as the next head of the International Monetary Fund.
UK bank chief: trade war may ‘shipwreck’ global economy
LONDON (AP) — Bank of England Governor Mark Carney warned Tuesday that the British economy is barely growing in the wake of mounting Brexit uncertainties and intensified trade...
Bank of England’s Carney hints at stimulus in no-deal Brexit
LONDON (AP) — The governor of the Bank of England gave his biggest hint yet that he'd back a stimulus package for the British economy if the country crashes out of the European Union at the end of...
Bank of England to mull access for likes of Facebook’s Libra
LONDON (AP) — The Bank of England is open to letting new payment services such as Facebook's upcoming Libra hold funds overnight with the central bank, something historically limited to commercial...
UK economy to slow near-term as Brexit preparations halted
LONDON (AP) — The British economy will weaken in the near-term as firms ease up on Brexit preparations now that the country's departure from the European Union has been delayed by months, the Bank...
UK begins search for new Bank of England governor
LONDON (AP) — The British government on Wednesday started the process to appoint the successor to Mark Carney as governor of the Bank of England, and indicated it is willing to look abroad again...
LONDON (AP) — The Latest on Britain's departure from the European Union (all times local):
Britain's House of Commons has by the narrowest of margins approved a bill...
The Latest: UK economy would be boosted by clarity on Brexit
LONDON (AP) — The Latest on the Bank of England's monetary policy decision and news conference (all times local):
Bank of England Governor Mark Carney says an easing in Brexit uncertainty could give the British economy a big boost.
The Latest: UK Parliament censures government on Brexit
LONDON (AP) — The Latest on Brexit (all times local):
In a U.K. parliamentary first, British lawmakers have found the government in contempt of Parliament for refusing to publish advice from the country's top law officer about Brexit.
The House of Commons voted 311-293 in favor of a motion by opposition parties censuring the government for failing to reveal the full guidance from Attorney General Geoffrey Cox, despite an earlier vote by Parliament calling them to do so.
The Latest: UK ‘not fully prepared’ for no-deal Brexit
LONDON (AP) — The Latest on Britain's exit from the European Union (all times local):
Bank of England Governor Mark Carney says Britain is "not fully prepared for a cliff-edge Brexit."
The central bank warned in a report that the British economy could shrink by 8 percent next year in the event Britain leaves the European Union in March with no deal and no transition period to smooth the process.
Bank of England preparing Brexit deal verdict next week
LONDON (AP) — Bank of England Governor Mark Carney gave a guarded welcome to Prime Minister Theresa May's Brexit deal as he confirmed the bank would deliver its verdict on the agreement next week.
Addressing lawmakers Tuesday, Carney said the withdrawal agreement would eliminate some of the uncertainty that has surrounded the British economy since the country voted to leave the EU in June 2016. It would provide businesses the platform to plan and invest.
UK public urged to recommend scientist for new 50-pound note
LONDON (AP) — The Bank of England on Friday asked the public to submit nominations of prominent British scientists to appear on a new 50 pound note.
Governor Mark Carney said the figure can come from any field of science — but "I have ruled out economists."
The current 50 pound note (worth $65) features steam-engine pioneers Matthew Boulton and James Watt.
The U.K's highest-denomination note is the last to be redesigned and switched from paper to more secure and durable polymer.
Bank of England warns of economic shock if Brexit talks fail
LONDON (AP) — The Bank of England warned Thursday that Britain could suffer an economic shock if it crashes out of the European Union without a deal, saying it could cause gridlock at ports and an inflation-rearing fall in the pound that could require higher interest rates.
Bank of England chief issues another Brexit warning
LONDON (AP) — Bank of England Governor Mark Carney warned Friday that developments surrounding Brexit are "the most significant influences" on the economic outlook for Britain.
A day after he reportedly told Cabinet members that a disorderly Brexit could lead to economic problems akin to the 2008 global financial crisis, Carney said the bank was ready for any eventuality.
Bank of England chief hints he will stay to help with Brexit
LONDON (AP) — Bank of England Governor Mark Carney all but confirmed Tuesday that he is to stay at the helm of the central bank for longer than planned to help ensure Britain leaves the European Union as smoothly as possible.
Following days of speculation about an extension beyond his planned June 2019 departure, Carney told a committee of lawmakers that during "this critical period" everyone should do what they can to help the Brexit process.
UK central bank: no-deal Brexit risk ‘uncomfortably high’
LONDON (AP) — The value of the pound fell Friday after Bank of England Governor Mark Carney said the risk of Britain leaving the European Union without a deal is "uncomfortably high."
Divorce talks between Britain and the EU have stalled amid feuding within U.K. Prime Minister Theresa May's government about how close an economic relationship to seek with the bloc after Brexit. Officials say there is a growing chance no deal will be struck before the U.K. leaves in March.
UK rates raised to highest since 2009 despite Brexit worries
LONDON (AP) — The Bank of England raised its main interest rate Thursday for only the second time since the 2008 financial crisis as it weighed conflicting signs about the economy and growing concerns about Brexit.
Bank of England spells out cost of Brexit to households
LONDON (AP) — British households are around 900 pounds ($1,205) worse off than they would have been had the country not voted to leave the European Union, the top central banker said Tuesday.
As Bank of England Governor Mark Carney told a committee of lawmakers, that is a "lot of money."
After cold hits economy, UK central bank keeps rate on hold
LONDON (AP) — Just weeks after hinting it would raise interest rates, the Bank of England held off doing so Thursday, arguing it was best to wait after an unexpected spell of wintry weather hurt economic growth.
LONDON (AP) — The Latest on the Bank of England's interest rate decision and new economic forecasts (all times local):
Bank of England Governor Mark Carney has defended himself against a charge that his public comments on interest rate moves lack credibility.
Bank of England likely to delay rate hike as economy slows
LONDON (AP) — Being predictable is not something most people aspire to. Unless you're a central banker.
Mark Carney, the governor of the Bank of England, and his eight colleagues on the Monetary Policy Committee, are striving to become more predictable in signaling when Britain's interest rates will rise again. They had for weeks hinted that a hike was due Thursday and investors were prepared.
Then all those assumptions were dashed by weak economic figures.
LONDON (AP) — The British pound is falling from post-Brexit highs after the Bank of England's governor tempered market expectations of another interest rate hike next month.
In comments to the BBC on Thursday, Mark Carney noted some recent soft economic data, and reiterated that any interest rate rises would be gradual.
He said: "I don't want to get too focused on the precise timing — it is more about the general path."
Bank of England backs post-Brexit status quo
LONDON (AP) — The Bank of England has advised European financial firms working in the U.K. to plan to operate as they do now for a period after Brexit in a little more than a year's time.
In a statement Wednesday, the bank welcomed last week's agreement between the British government and the remaining 27 members of the European Union for a transition period after Brexit until the end of 2020.
Bank of England chief slams cryptocurrencies; urges action
LONDON (AP) — Bank of England Governor Mark Carney on Friday launched a withering attack on cryptocurrencies such as bitcoin and urged regulators around the world to monitor them in the same way as other financial assets.
In a speech to the Scottish Economics conference in Edinburgh, Carney said a "global speculative mania" has "encouraged a proliferation of new cryptocurrencies" and said they should be held to the "same standards" as the rest of the financial system.
UK inflation unexpectedly holds steady at 3 percent
LONDON (AP) — Inflation in Britain held steady at a five-year high of 3 percent in the year to October, just below the level that would have forced the governor of the Bank of England to write to the government explaining why prices are rising by more than a percentage point above target.
The Latest: Bank of England latest to ease crisis measures
LONDON (AP) — The Latest on the Bank of England's monetary policy decision (all times local):
Bank of England Governor Mark Carney says the global economy is "firing on most cylinders" and that, as a result, it's no surprise that many central banks are easing up on some of their crisis-era stimulus measures.
For first time in decade, UK interest rates are due to rise
LONDON (AP) — The Bank of England is on Thursday set to raise interest rates for the first time in a decade in order to keep a lid on inflation, a move that has the potential to hurt the British economy just as it struggles with the uncertainties of Brexit.
UK interest rates set to rise as inflation hits 3 percent
LONDON (AP) — Inflation in Britain is set to rise above 3 percent in the next month or two due to Brexit-related price increases, the Bank of England's governor warned Tuesday, reinforcing expectations that interest rates will soon rise for the first time in a decade.
Bank of England chief says UK to underperform until mid-2018
LONDON (AP) — The British economy is likely to grow more slowly than its peers in the Group of Seven until the middle of next year largely because of uncertainties related to the country's exit from the European Union, the Bank of England governor said Monday.
Bank of England settles staff pay dispute
LONDON (AP) — A pay dispute that saw Bank of England staff walk out on strike last month for the first time in decades has been settled.
The Unite union said Tuesday that its members, who included security staff and cleaners, accepted the revised offer from the bank to end the dispute, which had led to a three-day strike in August.
Bank of England workers on strike for first time in 50 years
LONDON (AP) — Striking employees at the Bank of England wore comical masks depicting the face of Governor Mark Carney on Tuesday as they stood outside the institution demanding better pay.
The three-day strike — the central bank's first in over 50 years — came after workers failed to reach a deal that would allow them to keep their wages growing as much as inflation, which is now at 2.6 percent annually.
Bank of England workers to go on strike
LONDON (AP) — Bank of England workers are set to go on strike Tuesday for the first time in 50 years.
Last-ditch talks on Monday failed to avert the three-day strike over what they say was a pay offer that was below the inflation rate.
Members of the Unite union blamed Bank of England Governor Mark Carney for the breakdown in talks.
Jane Austen features on new British 10-pound note
LONDON (AP) — Two hundred years to the day after Jane Austen died, a new 10-pound note featuring an image of one of England's most revered authors has been unveiled — right where she was buried.
At the unveiling Tuesday of the new "tenner" at Winchester Cathedral in southern England, Bank of England Governor Mark Carney said the new note celebrates the "universal appeal" of Austen's work.
Market fits highlight central bankers’ difficult task
FRANKFURT, Germany (AP) — Sharp moves in bond and foreign exchange markets have underlined the challenge that Europe's top central bankers face as they prepare investors for the day when they will start to phase out policies that have supported the economy through financial crises and political uncertainty.
Asian shares rally on Wall St rebound as confidence rises
HONG KONG (AP) — Asian shares rallied Thursday following Wall Street's rebound as investors regained confidence in the global economic outlook.
KEEPING SCORE: Japan's benchmark Nikkei 225 index rose 0.6 percent to 20,242.63 and South Korea's Kospi advanced 0.7 percent to 2,399.41. Hong Kong's Hang Seng gained 0.7 percent to 25,872.94 and the Shanghai Composite in mainland China added 0.1 percent to 3,175.99. Australia's S&P/ASX 200 climbed 0.8 percent to 5,802.60.
Pound jumps on Carney remarks about timing of rate hike
FRANKFURT, Germany (AP) — The British pound rose sharply Wednesday after the country's top central banker pondered the prospect of higher interest rates, a day after his counterpart at the European Central Bank sent the euro soaring with a relatively rosy economic assessment of the 19-country eurozone.
Key leaders in UK economy argue for cooperative Brexit talks
LONDON (AP) — Two of the most senior figures in Britain's economy argued Tuesday for cooperative, not adversarial, talks over the country's exit from the European Union, calling for a deal that benefits both sides rather than erecting barriers that will hurt everyone.
Pound dips as rate hike talk eases; oil prices hit 2017 lows
LONDON (AP) — The British pound was under pressure Tuesday after Bank of England Governor Mark Carney reined back market expectations that the bank would soon raise interest rates, while oil prices struck 2017 lows on worries over a glut in the market. Elsewhere, markets were fairly flat amid a dearth of market-moving news.
‘Wages won’t keep up:’ UK central bank says inflation biting
LONDON (AP) — The Bank of England says a rise in inflation driven by the market turmoil over Brexit is starting to hurt consumers, weakening growth and pushing the central bank to keep its interest rates at record lows.
The bank on Thursday kept its main interest rate at 0.25 percent as it noted that the economy will be weaker than expected this year as Britain prepares to leave the European Union.