"Ever since the greedflation crisis began, the Bank of England has been attacking workers’ wages while downplaying corporate profiteering.

“Now the central bank’s own analysis supports what Unite has argued all along about inflation. Companies are raising prices simply to boost their own profit margins.”
Sharon Graham, General Secretary of Unite
#Greedflation #Inflation #Profiteering #BankOfEngland #InterestRates

https://www.theguardian.com/business/2023/sep/09/now-even-the-bank-of-england-admits-greedflation-is-a-thing

Now even the Bank of England admits greedflation is a thing | Phillip Inman | The Guardian
https://www.theguardian.com/business/2023/sep/09/now-even-the-bank-of-england-admits-greedflation-is-a-thing

#Greedflation
#BOE
#BankOfEngland
#ThreadneedleStreet
#Unite
#GreedflationCrisis

Biased Bank of England blames pay for inflation, never profit

Data suggests prices are rising even though production costs are flat. Yet wages remain policymakers’ chief concern

@phillipinman @SydesJokes #BankOfEngland #Inflation
https://www.theguardian.com/business/2023/aug/12/biased-bank-of-england-blames-pay-for-inflation-never-profit

Bank of England Forms Digital Pound Advisory Group to Shape CBDC Design - Announced on the Bank's Website on Wednesday, the Bank of England (BoE) has established a... - https://cryptonews.com/news/bank-of-england-forms-digital-pound-advisory-group-shape-cbdc-design-1.htm #blockchainnews #bankofengland #digitalpound #stablecoin #hmtreasury #cbdc

Bank of England Wants Digital Pound Advisers as It Moves to CBDC Design Phase - The Bank of England has also started recruiting for its central bank digital currency eng... - https://www.coindesk.com/policy/2023/08/09/bank-of-england-wants-digital-pound-advisers-as-it-moves-to-cbdc-design-phase/?utm_medium=referral&utm_source=rss&utm_campaign=headlines #bankofengland #digitalpound #regulations #policy #news #cbdc

Bank of England Remains Focused on Systemic Stablecoin Regime - The UK central bank has released a consultation response on systemic stablecoins, suggest... - https://cryptonews.com/news/bank-of-england-remains-focused-systemic-stablecoin-regime.htm #bankofengland #altcoinnews #stablecoin #regulation

UK's Central Bank Forges Ahead With Plans for a Systemic Stablecoin Regime - The U.K. recently passed the Financial Services and Markets Act 2023 into law which gave ... - https://www.coindesk.com/policy/2023/08/08/uks-central-bank-forges-ahead-with-plans-for-a-systemic-stablecoin-regime/?utm_medium=referral&utm_source=rss&utm_campaign=headlines #bankofengland #systemicrisk #regulations #policy #crypto #news

💰 The #BankofEngland's forecasting, which informs major decisions for the 🇬🇧 economy, is being reviewed and has been criticised after the Bank hiked interest rates for a >>14th<< time in a row in an effort to slow price rises

Should we trust their forecasts?

https://www.bbc.co.uk/news/66408346

We hail the Bank of England fair,
Whose base rate soon will be there,
An increase of a quarter,
Will help tame inflation's slaughter
And bring economic confidence to the air

#bankofengland #interestrates #economy #inflation #ode #poetry

http://www.independent.co.uk/news/uk/home-news/interest-rates-bank-of-england-inflation-latest-b2386246.html

Today the #BankOfEngland put up #InterestRates again. For savers, this means the interest rate will go up from twice nothing to thrice nothing. For those with #mortgages, it means the rate will go up from "I can't afford that!!" to "are you f**king kidding me?". On the plus side, it didn't #rain quite so much today. ☔

5.25% is not a high #interest rate

#bankofengland #interestrates

https://www.economicshelp.org/blog/1485/interest-rates/historical-real-interest-rate/

The idiots from the #BankOfEngland making the public suffer for the excessive profiteering of fossil fuel companies (the real reason prices keep risinf). #CostOfLivingCrisis #CostOfGreedCrisis

https://www.bbc.co.uk/news/business-66384289

Leitzins in Großbritannien steigt auf 5,25 Prozent

Im Kampf gegen die anhaltend hohe Inflation erhöht die Bank of England den Leitzins erneut um 0,25 Prozentpunkte auf 5,25 Prozent. Das ist die bereits vierzehnte Zinserhöhung seit Ende 2021.

➡️ https://www.tagesschau.de/wirtschaft/konjunktur/bank-of-england-hebt-leitzinsen-erneut-an-100.html?at_medium=mastodon&at_campaign=tagesschau.de

#BankofEngland #Leitzinsen #Inflation #Großbritannien

Sarah Breeden, CBDC Working Group Member, Appointed Bank of England Deputy Governor - The U.K. closed a consultation on a digital pound in June, something the bank thinks is l... - https://www.coindesk.com/policy/2023/08/01/sarah-breeden-cbdc-working-group-member-appointed-bank-of-england-deputy-governor/?utm_medium=referral&utm_source=rss&utm_campaign=headlines #bankofengland #regulations #policy #news

#BankOfEngland risks #recession with #InterestRateRises, #MervynKing says

Warning from ex-governor adds to concerns about #economy with Bank tipped to raise rate above 5%
https://www.theguardian.com/business/2023/jul/20/bank-of-england-risks-triggering-recession-with-interest-rate-rises #UK #ToryPoliciesInAction #Inflation

If so #williamkeegan has been listening to one of the right people! Sir #charlesgoodhart as he now most deservedly is served the #BankOfEngland with distinction for many years and also invented "Goodhart's Law" a cousin of the "Heisenberg Uncertainty Principle".

@ChrisMayLA6

I can remember the estimable #charlesgoodhart warning people about this in the early days of #bankofengland independence. But what did he know about anything compared to #larrysummers or #edballs ?

Revealed: Bank of England staff handed £25m in bonuses
https://www.opendemocracy.net/en/bank-of-england-awards-staff-25m-annual-performance-bonus/ #BankOfEngland #greed #austerity #CostOfLiving #ClassWar

Amazing exposé of the OBR by Richard Murphy. https://www.taxresearch.org.uk/Blog/2023/07/15/why-the-obrs-view-of-the-economy-is-so-wrong/
#BankofEngland #ONS #OfficeofBudgetResponsibility #OBR #Statistics #Treasury #UKeconomy #GovernmentDebt

@PoliticalPuffin

The use of high #InterestRates to induce recession and thereby reduce inflation occurred well before 1997 when the #BankOfEngland was given its independence. I am old enough to remember the beginning of the 1980s when the same thing happened. Interest rates were brought down then by tightening fiscal policy including increases in taxation. The logical but almost certainly politically impossible thing to do would be to raise taxation quite sharply but just on the top 5-10% !