The Bank of England said today it aimed to revamp the system that underpins British banking and trading in the City of London by 2020 to boost its defenses against cyber-attacks and widen the number of businesses that can use it.
The financial system's ability to cope with Britain's vote to leave the European Union and with doubts over growth prospects show the benefits of rules introduced since the 2008 collapse of Lehman Brothers bank, a global watchdog said today.
Global stock markets rose today, after the Bank of England cut interest rates and revived a bond-buying program to cushion the blow to the economy from Britain's June 23 vote to leave the European Union.
The Bank of England today became one of the only central banks to announce a stimulus package that appears to have, at least for now, exceeded market expectations and satisfy investors in a way that other central banks have failed this year. The triple whammy of a rate cut, an increase in bond buying – both government and now corporate...
World stocks fell for a third straight day today, depressed by growing nervousness surrounding central bank policy and the spike in world bond yields, although European bank shares rebounded after two major earnings reports.
Britain's economy is shrinking at its fastest rate since the financial crisis after last month's Brexit vote, making a Bank of England rate cut tomorrow a "foregone conclusion", a closely watched survey of businesses showed.