Tagged: bank of england

April 14, 2025 @ 10:13 pm By Omar Faridi  |  

In a significant move to enhance the UK’s financial infrastructure, the Bank of England has released its response to a February 2024 discussion paper on reviewing access to Real-Time Gross Settlement (RTGS) accounts for settlement. The response outlines the Bank’s commitment to expanding RTGS access,… Read More

April 9, 2025 @ 10:42 am By Omar Faridi  |  

SEI (NASDAQ:SEIC) announced that SEI Investments (Europe) Limited will partner with Ctrl Alt, a tokenization platform, and participate in the Bank of England’s Digital Securities Sandbox (DSS). The DSS aims to facilitate innovation in market infrastructure and protect financial stability and market integrity by “evaluating… Read More

April 4, 2025 @ 8:07 am By Omar Faridi  |  

Ctrl Alt will explore tokenization in the Bank of England’s Digital Securities Sandbox, analyzing how digital ledger technology can improve efficiencies whilst working with the FCA to “integrate these innovative models into new frameworks.” As confirmed in the announcement, Ctrl Alt has been officially admitted… Read More

March 21, 2025 @ 10:41 am By JD Alois  |  

The Bank of England’s Monetary Policy Committee (MPC) has decided to hold its benchmark rate steady at 4.5%. This follows the US Federal Reserve’s decision not to change its rates. The MPC voted 8 to 1, with one member preferring to cut rates by 25 basis… Read More

March 7, 2025 @ 9:15 am By Omar Faridi  |  

Karim Haji, Global and UK Head of Financial Services at KPMG, comments on the Money and Credit statistical release from the Bank of England. Karim Haji from KPMG noted that the sharp rise in borrowing suggests that many households “struggled to stretch disposable incomes between Christmas… Read More

February 6, 2025 @ 11:30 am By JD Alois  |  

The Bank of England has cut benchmark rates by 25 basis points to 4.5%, a move anticipated by markets. The Monetary Policy Committee (MPC) of the Bank of England holds a similar target as the US of achieving a 2% inflation rate. In Q4 2024,… Read More

January 15, 2025 @ 11:07 pm By JD Alois  |  

UK inflation (Consumer Prices Index including owner occupiers’ housing costs – CPIH) declined slightly in an unexpected development. Inflation was measured at an annual rate of 2.5% in December, down from November at 2.6%. On a monthly basis, the consumer price index rose by 0.3%… Read More

January 14, 2025 @ 8:57 am By JD Alois  |  

The Bank of England and HM Treasury are in the design phase for the creation of a digital pound or central bank digital currency. A consultation paper outlined the framework as a precursor to a possible digital currency. The update by the Bank is said… Read More

November 22, 2024 @ 8:46 am By JD Alois  |  

The Bank of England and the Financial Conduct Authority (FCA) have jointly published a report indicating that 75% of financial firms already use artificial intelligence (AI). AI rocketed to public perception following the release of ChatGPT. Consumer development of AI fueled a need for all… Read More

November 20, 2024 @ 7:39 am By Omar Faridi  |  

The Bank of England has launched a consultation on Fundamental Rules for Financial Market Infrastructures and shares its approach to FMI supervision. The Bank aims to introduce a set of Fundamental Rules for UK Financial Market Infrastructures (FMIs), essential to the safe operation of the… Read More

November 10, 2024 @ 1:09 pm By Omar Faridi  |  

KPMG has shared comments on the latest Bank of England monetary policy committee decision. Yael Selfin, Chief Economist at KPMG UK said that the Bank of England strikes a “balanced tone with [the recent] cut to the bank rate.” Selfin added that after a pause in… Read More

November 7, 2024 @ 9:20 am By JD Alois  |  

The Bank of England has cut benchmark rates by 0.25 basis points (bps) to 4.75%. The move was largely expected by markets. The Bank shared that its Monetary Policy Committee (MPC) voted 8–1 to reduce the rates, with one member voting to hold the rate… Read More

October 2, 2024 @ 7:45 am By Omar Faridi  |  

KPMG has recently shared insightful comments following the Money and Credit data from the update from the Bank of England. Karim Haji, Global and UK Head of Financial Services at KPMG, shared comments on the recent Money and Credit statistical release. Karim Haji from KPMG… Read More

September 30, 2024 @ 12:58 pm By JD Alois  |  

The Digital Securities Sandbox (DSS) is now open for applications. Digital securities, or tokenized assets, are widely believed to be the future of the securities sector. While anticipation of the migration to digital from more analog issuance and trading of securities has been predicted for… Read More

September 6, 2024 @ 8:47 am By Omar Faridi  |  

KPMG has recently commented on the latest Money and Credit data from the Bank of England. Karim Haji, Global and UK Head of Financial Services at KPMG, shared key insights on the newest Money and Credit data from the Bank of England (for the month… Read More

August 3, 2024 @ 5:03 am By Tony Zerucha  |  

The Bank of England’s decision to cut interest rates for the first time since the pandemic began has been hailed as “a welcome step in the right direction,” by deVere Group CEO Nigel Green. Green made the comments as the UK central bank unveiled a… Read More

August 1, 2024 @ 9:57 am By JD Alois  |  

The Bank of England, Monetary Policy Committee (MPC), has voted 5 to 4 to cut the benchmark Bank Rate by 0.25% to 5%. The disennters preferred to hold rates steady for now. The decision to cut rates follows the decision by the US Federal Reserve… Read More

July 30, 2024 @ 10:53 am By JD Alois  |  

The Bank of England has posted a Discussion Paper on the payments ecosystem. The Paper looks to review innovations in payments and how they can impact the Bank’s monetary and financial stability objectives while bringing opportunities and improvements. The Paper outlines the Bank’s current plans,… Read More

July 30, 2024 @ 9:19 am By JD Alois  |  

As the UK pushes aims to improve its financial services market, including Fintechs, the Bank of England and Prudential Regulation Authority (PRA), have announced a new Cost Benefit Analysis Panel (CBA Panel). This new Panel will proffer advice on the impact of new rules or… Read More

July 19, 2024 @ 12:50 pm By JD Alois  |  

Yesterday, it was reported that CHAPS, or the Clearing House Automated Payment System, the system that enables real-time gross settlement payments in the United Kingdom, had gone offline, impacting some “high-value” payments and transfers. The Bank of Engaland did not reveal the cause of the outage,… Read More