Britain’s inflation rate unexpectedly overshot the Bank of England’s two percent target on Wednesday, raising the cost of living even before sterling’s slide has had much chance to feed into consumer prices.
British banks hold enough capital to cope with a simultaneous disorderly no-deal Brexit and global trade war, the Bank of England said on Thursday as part of its half-yearly assessment of financial risks.
British Chancellor of the Exchequer Philip Hammond has spent many idle moments thinking about who should succeed Bank of England governor Mark Carney. How, the chancellor asks himself, can he repeat the stunning, rabbit-out-of-a-hat moment when No 11’s previous incumbent, George Osborne, said in 2013 that the Canadian central banker who was heading the global post-crash clean-up operation was coming to help Britain’s recovery?
The Bank of England (BoE) and International Monetary Fund (IMF) will spark a fresh Brexit intervention row this week as they warn of the economic consequences of leaving the EU, just days before the vote.