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The UK government built a $146 billion war chest to stop a run on the pound in the case of a ‘no-deal’ Brexit, Bank of America says
The war chest suggests there was a "chance the UK would leave the EU without a deal and thus [create] a run on the pound," the BofA analysts say.
UK lenders have been told to boost their holdings by the BoE to cope with a potential meltdown in financial markets in the event of no-deal Brexit.
The central bank's nine-member Monetary Policy Committee voted unanimously to leave rates at 0.75%, as had been widely expected.
While markets in Asia largely remain closed after the Chinese New Year, virtually all European stock markets have lost at least some ground Thursday.
The Bank of England has refused to give back $1.56 billion in Venezuelan gold after countries around the world say the regime is illegitimate
The Bank of England is said to have frozen Venezuelan gold assets worth $1.56 billion in another blow to the regime of Nicolas Maduro.
Venezuela opposition leader begs the Bank of England not to send $1.2 billion in gold to Maduro’s ‘illegitimate and kleptocratic regime...
Maduro wants to sell the gold, and the money would be used "to repress and brutalize the Venezuelan people," Juan Guaidó wrote in the letter.
UK demand for credit cards and mortgages is collapsing as Brits brace themselves for the shock of Brexit
The UK housing market has slowed to its lowest level in nearly a decade as Brexit fears freeze demand for mortgages and credit cards.
The central bank's nine-member Monetary Policy Committee voted unanimously to leave rates on hold at 0.75%.
Venezuela really, really wants its $550 million of gold back. And it’s going to the Bank of England to get it.
Venezuela's finance minister and central bank governor are set to meet a Bank of England official. The bank is seeking "clarity" before returning it.
The UK economy could slump 8% into the worst recession since WWII after a no deal Brexit, Bank of England warns
It would push the pound to its lowest level in history.