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BoE defends policy after minister raises interest rates
... operational independence. LONDON Reuters - The Bank of England's top brass defended their record on Britain's monetary policy on Thursday after a cabinet minister talked openly about diluting the central bank's operational independence. Andrew Bailey , BoE Governor, said it is important for the central bank to make policy decisions independent of the government after the BoE raised interest rates to 1.75% from 1.25%. With inflation soon going into double digits, Conservative politicians have attacked ...
Updated: 08/04/2022
Air Works hands over the last of its P-8I aircraft to Indian Navy
... Aviation Services and Solutions segment, the country's largest independent maintenance repair and overhaul MRO Air Works Group handed over the last of the six Poseidon 8I maritime patrol aircraft after completing critical Phase 32 maintenance checks to Boeing and the Indian Navy. In a significant achievement for India's Aviation Services and Solutions segment, the country's largest independent maintenance repair and overhaul MRO Air Works Group handed over the last of the six Poseidon 8I maritime ...
Updated: 08/04/2022
BoE hikes interest rates by most in 27 years
... London. TOLGA AKMEN AFP LONDON -- The Bank of England raised interest rates by the most in 27 years on Thursday despite warnings that a long recession is on its way, as it rushed to smother a rise in inflation which is now set to top 13 percent. The BoE's Monetary Policy Committee voted on 8 -- 1 for a half percentage point rise in Bank Rate to 1.75 percent its highest level since late 2008 from 1.25 percent, due to a surge in energy prices caused by Russia's special military operation in Ukraine....
Updated: 08/04/2022
BoE hikes interest rates by most since 2008, predicts U.K. economy will hit double digits
... predicted that U.K. inflation could hit double digits by the end of 2022 and the economy could endure more than a year of recession as high prices hit households as a result of the war in Ukraine. The 50 basis point increase in borrowing costs by the BoE 's monetary policy committee MPC was the biggest increase since 1995, and took interest rates to 1.75%, the highest level since the depths of the financial crisis in 2008. Since the BoE said in May, inflationary pressures in the U.K. and the rest ...
Updated: 08/04/2022
BoE hikes interest rates by most in 27 years despite inflation warning
... London. TOLGA AKMEN AFP LONDON -- The Bank of England raised interest rates by the most in 27 years on Thursday despite warnings that a long recession is on its way, as it rushed to smother a rise in inflation, which is now set to top 13 percent. The BoE's Monetary Policy Committee voted 8 -- 1 for a half percentage point increase in Bank Rate to 1.75 percent its highest level since 2008 from 1.25 percent, due to a surge in energy prices caused by Russia's special military operation in Ukraine. ...
Updated: 08/04/2022
IndiGo begins first three-point disembarkation service
... facility will help IndiGo cut down the turnaround time for a flight. The turnaround time means the sequential preparation of an aircraft for the next flight from its arrival at a destination to its departure. On a narrowbody like an Airbus 321 or Boeing 737, this may vary from half an hour for an LCC to one hour for a full-service carrier FSC IndiGo is looking at offering a similar service during embarkation. Indian carriers are looking at innovative ways to maximise operational efficiency at ...
Updated: 08/04/2022
BOE raises interest rates to curb inflation
... to rein in inflation pressures that policy makers said have intensified since the last meeting of the Monetary Policy Committee . The committee voted to lift the Bank Rate by 50 basis points, or half a percentage point, to 1.75%. One member of the BOE said he preferred to raise the rate by 25 basis points to 1.5%. The BOE said that rising inflation pressures reflect a double in wholesale gas prices since May, due to Russia's restriction of gas supplies to Europe and the risk of further curbs. ...
Updated: 08/04/2022
UPDATE 2-BoE raises interest rates despite inflation warning
... set to top 13 LONDON, Aug 4, Reuters - The Bank of England raised interest rates by the most in 27 years on Thursday despite warnings that a long recession is on its way, as it tried to smother a rise in inflation which is now set to top 13%. The BoE 's Monetary Policy Committee voted 8 -- 1 for a half percentage point increase in Bank Rate to 1.75%, its highest level since late 2008 - from 1.25%, because of a surge in energy prices caused by Russia's invasion of Ukraine. The 50 basis-point ...
Updated: 08/04/2022
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