Bank Of England

Bankers in London are piling into the country’s government bonds in their own accounts after a selloff. And they have a favorite: the January 2028 gilt.

The Dutch central bank has relocated $12 billion in gold from New York and Ottawa to London, accounting for over a quarter of its bullion. Jan Kubicek, a board member of the Czech central bank, said London serves as Europe’s gold market.

In April, yuan trading against the US dollar surged 42% in London, reaching $182.6 billion. This increase reflects a broader trend amidst global market volatility, boosting China's efforts to enhance the yuan's global presence, even as concerns about the dollar's reserve status persist.

The Bank of England is all but assured to cut interest rates by another quarter point this week, but a second US presidential term for Donald Trump has cast new uncertainty over future policy easing in the UK.

A third of Britain’s official “shopping basket” has slipped into deflation, providing another green light for the Bank of England to cut interest rates.

The pound posted the biggest one-day slide against the euro since late 2022 after Governor Andrew Bailey suggested the Bank of England could take a more aggressive approach to lowering interest rates.

A consumption-driven recovery in the UK could set off a renewed bout of inflation, but more interest rate cuts are likely as prices are “moving in the right direction,” Bank of England policymaker Megan Greene said.

BRITAIN-ECONOMY/INFLATION:UK shop prices dip for first time in nearly 3 years, survey shows

Britons are growing increasingly optimistic about their personal finances after the Bank of England cut interest rates this month and signalled more relief is on the way.