S&P 500
7,615.80
-0.09%
Dow Jones
51,326.00
-0.09%
Nasdaq 100
30,657.60
-0.19%
Russell 2000
2,931.83
-0.04%
FTSE 100
10,379.30
-0.08%
Nikkei 225
68,559.20
+1.57%

Banking, finance, and taxes

Bank of England Stands By Interest Rates & Asset Purchases

Photo of Jon C. Ogg
By Jon C. Ogg Updated Published
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

Invalid Image
The Bank of England has voted to decide to leave its key short-term lending rate unchanged at 0.5%.  The move was widely expected to remain unchanged, and it also follows a similar action announced by the European Central Bank of Wednesday of this week.  The rate has now stood at 0.5% for three-years and easing further from here is most likely to resemble the quantitative easing efforts of the U.S. Federal Reserve.  England is not suffering from the same magnitude of the woes out of the lands of the PIIGS and the European Union, but it is far from immune from those woes at the same time.

What is more important than the rate decision is that the Bank of England has said it plans to maintain its 325 billion pound asset program that come to more than $500 billion if you translate the figure to dollars.  The Bank also noted that it plans to keep the size of this program under review.  It may be a disappointment to some investors that this was not grown in size.

Another day, another Euro, another Pound, and another Dollar…

JON C. OGG

Follow 24/7 Wall St. on Google
Photo of Jon C. Ogg
About the Author Jon C. Ogg →

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.

Continue Reading

BoE Doubles Bond Buying Limit to £10B in Bid to Protect Pension Funds
247patrick |

BoE Doubles Bond Buying Limit to £10B in Bid to Protect Pension Funds

The Bank of England has announced it will purchase up to £10 billion of government bonds per day, doubling the…

Jon C. Ogg |

Europe and U.K. Keep Interest Rates on Hold

ThinkstockKey decisions are out from the Bank of England and from the European Central Bank (ECB). Most U.S. investors would…

Paul Ausick |

Bank of England Waits for Draghi

The Bank of England this morning announced that it would leave its policy lending rate unchanged at 0.5%, the same…

BoE to Start Buying Bonds as IMF Warns of Britain’s Fiscal Irresponsibility
247patrick |

BoE to Start Buying Bonds as IMF Warns of Britain’s Fiscal Irresponsibility

In an attempt to stabilize the markets, the Bank of England plans to buy long-dated bonds and also postpone the planned…

Jon C. Ogg |

Central Bank Watch: European Central Bank Cuts Rates, Band of England Does Not

The European Central Bank and the Bank of England have now made their decisions on interest rates and rate policy…

Short Selling on GBP Ramped Up 17% as Truss Became UK’s Prime Minister
247patrick |

Short Selling on GBP Ramped Up 17% as Truss Became UK’s Prime Minister

Hedge funds have significantly increased their short positions against the pound since Liz Truss became the U.K.’s new prime minister.

Jon C. Ogg |

Bank of England Keeps Stimulus and Quantitative Easing Alive

ThinkstockThe Bank of England’s Monetary Policy Committee voted on Thursday to maintain the current economic stimulus plans. This is its…

Trey Thoelcke |

Bank of England Keeps Lending Rate Unchanged

The Bank of England announced on Thursday that its key lending rate would remain unchanged, and it made no changes…

Jon C. Ogg |

European Central Bank and Bank of England Deliver Duds

ThinkstockThere has been talk in Europe that Mario Draghi might have make more noise about vigilant policy to prevent weakness…

Top Gaining Stocks

Hewlett Packard Enterprise
HPE • Vol: 153,197,465
Enphase Energy
ENPH • Vol: 8,360,053
Corning
GLW • Vol: 18,152,646
Alexandria Real Estate Equities
ARE • Vol: 4,337,015
Aptiv
APTV • Vol: 6,761,325

Top Losing Stocks

Trade Desk
TTD • Vol: 21,905,513
Intuit
INTU • Vol: 7,383,018
Coterra Energy
CTRA • Vol: 73,319,495
Cboe Global Markets
CBOE • Vol: 5,000,011
HP
HPQ • Vol: 29,259,826