Bank of England’s Cunliffe Pushes for Crypto Regulation — Sees ‘Real’ Benefits for UK
Bank of England Deputy Governor Sir Jon Cunliffe has revealed that the British central bank is planning to step up its efforts to regulate cryptocurrency trading with new laws. “We should think about regulation before it becomes integrated with the financial system and before we could have a potential systemic problem,” he stressed. Sir Jon […]
Bank of England Hikes Repo Rate by 75bps — UK’s 30-Year Fixed Mortgage Rate Jumps to 7%
On Nov. 3, 2022, the Bank of England followed the U.S. Federal Reserve by codifying the eighth consecutive benchmark bank rate hike by 75 basis points (bps). The increase brings the United Kingdom’s main lending rate to 3%, after a majority of the Monetary Policy Committee (MPC) members voted in favor of the 75bps increase. […]
Bank of England to Double Long-Dated Gilt Buy-Backs, QE Policy to See an ‘Orderly End’ in Mid-October
After the British pound sterling tapped an all-time low against the U.S. dollar on September 26, the Bank of England (BOE) said it would halt its monetary tightening policy and start buying long-dated bonds again. Approximately two weeks later, the BOE detailed on Monday that it was doubling the size of its debt buy-backs by […]
Bank of England Suspends Tightening Policy as Pound Nosedives — Central Bank to Start Purchasing Long-Dated UK Government Bonds
Following the extremely volatile European markets during the past few days and the euro and pound dropping rapidly against the U.S. dollar, the Bank of England has decided to intervene in bond markets. U.K. government bond yields have been erratic and the pound sterling also dropped to a lifetime low against the greenback. On Wednesday, […]
British Pound Taps All-Time Low Against US Dollar Following BOE’s 50bps Rate Hike
The world’s oldest fiat currency, the British pound sterling, slid to an all-time low against the U.S. dollar at a little after 1 a.m. (ET) Monday morning. At the time, the pound tapped 1.0327 nominal U.S. dollars per unit, but rebounded against the greenback to 1.0775 by 11 a.m. Monday morning. Pound Sinks Against Greenback […]
Euro Taps a $0.973 Low Against the US Dollar, Analysts Claim British and EU Currencies Are Trapped in a ‘Doom Loop’
On Friday, the official fiat currency of 19 out of the 27 member states of the European Union (EU), the euro, plunged to a low of $0.9732 against the U.S. dollar. The drop comes at a time when fiat currencies like the yen, yuan, and pound have struggled against the greenback during the past six […]
Bank of England: Crypto Needs Enhanced Regulatory and Law Enforcement Frameworks
The Bank of England says “extreme volatility” in the crypto market “underscores the need for enhanced regulatory and law enforcement frameworks.” The British central bank has warned that crypto prices could fall further. Bank of England Calls for Enhanced Crypto Regulation The Financial Policy Committee of the British central bank, the Bank of England (BOE), […]
Bank of England’s Governor Warns About Crypto Amid Bloodbath — ‘Be Prepared to Lose All Your Money’
The governor of the Bank of England, Andrew Bailey, has reiterated his warning about cryptocurrency investing after U.S. crypto lender Celsius abruptly froze withdrawals. He stressed that investors should be prepared to lose all their money, emphasizing that crypto has no intrinsic value. Bank of England’s Governor Warns About Cryptocurrency Following Celsius’ Withdrawal Freeze Bank […]
Bank of England Says Crypto Assets ‘Present Financial Stability Risks,’ Bank Begins Sketching Regulatory Framework
The Bank of England has revealed that it is working on sketching a regulatory framework for crypto assets, according to statements stemming from the central bank’s Financial Policy Committee on Thursday. BOE Stresses Crypto Assets Need Effective Public Policy Frameworks On Thursday, the Bank of England (BOE) told the press that it is sketching out […]