It is known throughout the world as a byword for security. But the Bank of England (BoE) is evidently a tad unclear on the whereabouts of £50b of banknotes, and it doesn’t seem to be overly concerned about it, a powerful group of MPs has said.
The British public’s expectations for inflation in five years’ time have jumped to their highest in more than a decade, Bank of England data showed on Friday, in a possible sign of concern about the economic outlook after Brexit.
The Bank of England pushed interest rates above their financial crisis lows on Thursday, but signalled it was in no hurry to raise them further as Britain heads for Brexit next year with no clear plan for leaving the European Union.
Bank of England policymaker Kristin Forbes said she did not see a case for a further interest rate cut to help Britain's economy after June's vote to leave the European Union, putting her at odds with the majority of her fellow rate-setters.