British Central Bank Critical of Cash Infusions
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The Bank of England said that injecting cash into the financial system amounted to a bailout of investors who made bad decisions.
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The pound was under pressure against the US dollar from weak housing data and comments by the Bank of England in a written submission to the parliamentary Treasury Committee which indicated that a weaker pound may be necessary to balance the current accounts.
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LONDON The possibility of a further slide in the dollar and a decline in demand for US assets has become a potential risk to financial stability, the Bank of England said on Monday in its semiannual Financial Stability Review.
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LONDON, Sept. 17 -- Worried depositors lined up Monday outside branches of Northern Rock, Britain's fifth-largest mortgage lender, to withdraw their money even as top government officials promised them it was safe.
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As the new Bank of England 20 pound note makes its debut featuring economist Adam Smith, a survey suggests Britons want better-known and more modern characters on their money.Comment
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Mortgage lender Northern Rock calls on Bank of England to provide emergency funding.
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The Northern Rock applies to the Bank of England for emergency financial support, the BBC  learns.
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Business & money: Hungarian-born financier issues stark warning about British economy in face of Fed rate cut
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Business & money: Watchdog warns banks that balance sheets will be under extra scrutiny and so they should not try to hide the worst effects of the credit crunch
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The nationalization of the once lucrative bank threatens the British Prime Minister's already tottering fortunes
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The British bank could face nationalization should an effort being led by Prime Minister Gordon Brownâs government fail to find a buyer.
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Zimbabwe's central bank chief has accused local banks of creating "artificial" cash shortages by failing to collect money from the country's main bank and distribute it to clients.
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A bank in Northern Ireland hit by a massive robbery said it was considering the drastic measure of taking several denominations of notes out of circulation as a means of preventing the criminals enjoying their haul.
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The pound was in focus today after Bank of England (BoE) governor Mervyn King defended the central bank&#39;s arms-length approach to the instability sweeping the world&#39;s financial markets weighed on the pound.
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A group of MPs are calling for the Bank of England to be more open about the way it sets interest rates.
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The Bank of England is set to offer lenders an extra Â£10bn in funds to limit the impact of a credit crunch.
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The Bank of England offers to inject Â£10bn into money markets to bring down three-month interest rates.