LONDON — The Bank of England said Thursday British banks will need at least six months to prepare for a shift into negative interest rates. The BOE asked British banks in October about their preparedness for negative interest rates, having revealed in September that it was exploring the possibility of taking rates below zero if necessary. […] Read more
Venezuela’s rival leaders are locked in a legal battle to determine the fate of over $1 billion of gold reserves stored in the vaults of the Bank of England, with a High Court ruling expected over the coming days. The hearing, which began in London on Monday and is expected to last four days, represents an […] Read more
The Bank of England is expected to expand its quantitative easing program on Thursday, but economists do not expect negative interest rates to be implemented this time around. The Bank’s latest monetary policy decision comes as the U.K. economy attempts to recover from an unprecedented 25% contraction across March and April as lockdowns forced by […] Read more
