David Milliken

Bank of England's Haldane 'very cautious' about cutting rates

23 Jul 2019

SCUNTHORPE, England Bank of England chief economist Andy Haldane sought to push back against market bets that the central bank's next move will be an interest rate cut, saying he would resist lowering borrowing costs unless there was a sharp downturn.

UK borrowing grows as new PM prepares to take over

19 Jul 2019

LONDON Britain's budget deficit swelled in the first three months of the tax year, official data showed, putting the public finances on a shakier footing even before a new prime minister moves into Downing Street next week clutching costly spending pledges.

UK hit with recession warning as Brexit battle builds in parliament

18 Jul 2019

LONDON Britain might be entering a full-blown recession that a no-deal exit from the European Union would compound, blowing a 30 billion-pound hole in the public finances, a budget watchdog said on Thursday. | Video

Bank of England expects balance sheet to halve when QE reversed

17 Jul 2019

LONDON The Bank of England's balance sheet is likely to roughly halve to around 275-375 billion pounds ($341-465 billion) when the time comes to reverse quantitative easing, a senior official said on Wednesday.

UK pay growth strongest since 2008, but jobs boom slows

16 Jul 2019

LONDON British wages, excluding bonuses, rose at their fastest pace in nearly 11 years, official data showed on Tuesday, but there were potential signs of future weakness in jobs growth, the economy's silver lining since the Brexit referendum.

No-deal Brexit could bring near-zero rates: Bank of England's Vlieghe

12 Jul 2019

LONDON The Bank of England might need to cut interest rates almost to zero after a no-deal Brexit, while repeated Brexit delays could also make a rate cut necessary, senior BoE official Gertjan Vlieghe said on Friday.

BoE says British banks ready for no-deal Brexit, trade war

11 Jul 2019

LONDON British banks hold enough capital to cope with a no-deal Brexit and a global trade war simultaneously, the Bank of England said on Thursday, although a disruptive Brexit would still cause major turbulence for financial markets and the economy. | Video

UK banks can cope with no-deal Brexit and trade war - BoE

11 Jul 2019

LONDON British banks hold enough capital to cope with a simultaneous disorderly no-deal Brexit and global trade war, the Bank of England said on Thursday as part of its half-yearly assessment of financial risks.

UK economy feels the strain of global slowdown as well as Brexit

01 Jul 2019

LONDON Britain's economy has lost momentum and might have shrunk in the second quarter of 2019, according to data that showed the double impact of Brexit and the slowdown in the global economy. | Video

UK current account gap hits highest since 2016, pushed up by gold

28 Jun 2019

LONDON Britain's current account deficit with the rest of the world ballooned to its highest since late 2016 earlier this year, official figures showed on Friday, though much of the increase was driven by volatile gold trades.

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