The Bank of England on Tuesday unveiled new designs of British banknotes featuring the image of new monarch King Charles III. News reports on the monetary measure indicate that the new £5, £10, £20 and £50 notes will be printed only to replace worn-out currency or to meet any increase in demand, so bank notes […]
The Swiss National Bank on Thursday raised its policy interest rate for the first time in 15 years in a surprise move, saying it is ready to hike further based on emerging inflationary trends in the global economic system. With the latest monetary policy stance, the Swiss Bank has joined other central banks in tightening […]
The Monetary Policy Committee of the Central Bank of Nigeria (CBN) on Tuesday voted unanimously to raise the Monetary Policy Rate (MPR), the benchmark interest rate to 13% for the first time in nearly two and a half years. The MPR, which is the benchmark lending rate, had been left unchanged at 11.5% since September […]
UK’s consumer prices are sustaining a rising trend, hitting their highest rate in over a decade as a result of soaring energy costs and blockages in the supply chain. Official figures on the country’s Consumer Price Index (CPI) released by the Office for National Statistics (ONS) Wednesday, a day before the Bank of England is […]
A top banker and policymaker of the Bank of England (BoE), Silvana Tenreyro, categorically declared on Monday that some inflation drivers in the UK economy were expected to remain short-lived and added that the apex bank’s monetary policy can do little to affect them. A news report by Reuters quoted the top banker as saying […]
The Managing Director of the International Monetary Fund (IMF), Christine Lagarde, on Thursday warned that a further extension to Article 50 will hinder growth in the UK economy, Lagarde projected that businesses and investors would remain hesitant in the coming months, warning that if there is prolonged uncertainty, it would have a “negative impact”. Speaking […]