Bank Of England | featured news

Britain named Canadian central bank chief Mark Carney on Monday as the next governor of the Bank of England, springing the surprise choice of a foreigner to help steer the world's sixth-largest economy out of stagnation.

The Bank of England left its monetary policy unchanged on Thursday, judging that its July decision to expand purchases of government bonds is enough stimulus for now despite the danger of a prolonged slump.

The Bank of England confirmed on Friday it had received U.S. recommendations to overhaul the Libor benchmark at the heart of a global rate-rigging scandal, saying it had passed them on to the banking group responsible for the rate... The Bank of England confirmed on Friday it had received U.S. recommendations to overhaul the Libor benchmark at the heart of a global rate-rigging scandal, saying it had passed them on to the banking group responsible for the rate.

The central bank said it would expand its program of purchasing corporate debt and government bonds by $75 billion and kept its key interest rate at 0.5 percent.