Bank of England Should Take a Breather at 4.75
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Aug. 19 (Bloomberg) -- It&#39;s time for the Bank of England to take a breather, chill out and learn to stop worrying about the ghost of inflation past.
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Business & money: Bank could step in to tackle fresh inflation fears.
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On Thursday 13th September, after the market had closed, the Bank of England announced to have provided emergency cash to Northern Rock, the fifth largest mortgage lender in the country. The Bank of England played down the intervention, saying that it is not a "bail-out" but rather a loan meant to ease the bank's difficulties in financing its short-term operations in the face of the recent market turmoil. The bank's assets are reportedly solid and there is no risk for shareholders.  In spite of this reassurance, the stock price of this former market darling tumbled 30% on Friday. People were seen queing outside branches while the website went down as the bank clients rushed to withdraw their money using the online banking facility.  It's the first time in my life I've seen that Great Depression staple, the bank run.
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The Bank of England on Thursday trimmed its key interest rate by a quarter-point to 5.25 percent amid concerns of slower economic growth, while keeping a close watch on inflation.
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British interest rates stayed at 4.75 percent for the fourth month running on Thursday, but economists are split over whether the Bank of England will raise borrowing costs again next year.
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The Bank of England has kept interest rates unchanged at 5.25 percent, opting for a wait-and-see approach on the economy after January's surprise hike had rattled financial markets.
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The Bank of England puts a further Â£4bn into the banking system in an effort to ease current market jitters.
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British interest rates were kept at 4.75% today amid signs that five rises over the last year had finally put the brakes on house prices and consumer spending.
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The pound has retreated against its major rivals after the Bank of England's (BoE) decision to leave interest rates unchanged at 4.75 percent.
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The Bank of England held its benchmark interest rate steady at 5.75 percent on Thursday. The decision was anticipated after weeks of turmoil in global markets.
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UK interest rates are expected to remain at 5.75% following the Bank of England's latest meeting.
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The Bank of England's decision to keep rates on hold was made by a vote of just five to four, minutes show.
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The Bank of England on Thursday injected 4.4 billion pounds into the financial system amid ongoing turmoil in credit markets.
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The Bank of England should leave interest rates on hold until next year to give consumers a breathing space in the run-up to the crucial Christmas trading period, the CBI said yesterday.
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The Bank of England announced it was leaving interest rates unchanged at 4.75 percent for a fourth successive month amid continued signs of cooling in the British economy.
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The Bank of England also left its benchmark rate unchanged at 5.75 percent.
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The Bank of England is expected to raise interest rates to 5.75% at its monthly meeting this week.