Bank Of England Archives - Wontumi Online

28 Apr

Afua Kyei Becomes Bank Of England Chief Financial Officer

wontumionlineNewsAfua Kyei, Bank Of England, Bank of England Chief Financial Officer, Chief Financial Officer

The narratives in very recent years have been different as women all over the world continue to shatter the glass ceilings in the hitherto mostly male-dominated fields of work and endeavour. From top positions in banks, the military, and the apex judicial courts of the world, among others, the new trend is the emergence of many women at the helm of affairs. Joining the pack of these formidable women is a Ghanaian named Afua Kyei, who is the current Chief Financial Officer and Executive Director at the Bank of England-UK. The 40-year-old rose through the ranks at the UK Central…

07 Feb

Digital Pound Likely This Decade, Treasury Says

wontumionlineBusiness, NewsBank Of England, Digital pound

A state-backed digital pound is likely to be launched later this decade, according to the Treasury and the Bank of England. Both institutions want to ensure the public has access to safe money that is easy to use in the digital age. Chancellor Jeremy Hunt said the central-bank digital currency (CBDC) could be a new “trusted and accessible” way to pay. But it will not be built until at least 2025. “We want to investigate what is possible first, whilst always making sure we protect financial stability,” Mr Hunt said. The Treasury and the Bank of England will formally start…

20 Dec

First Bank Notes Featuring King Charles Unveiled by Bank of England

wontumionlineBusinessBank Of England, King Charles III

The Bank of England has unveiled its first banknotes featuring King Charles III, following the death of Queen Elizabeth II. The notes are expected to enter circulation in mid-2024, gradually replacing those featuring Charles’s late mother, who began appearing on paper money in 1960. The Royal Mint, which produces the UK’s coins, has already revealed its currency with the King’s likeness, created by the sculptor Martin Jennings. There are currently 27 billion coins in circulation carrying the Queen’s face, which will be replaced over time as they become worn. The new King Charles 50p coins have already entered circulation.

04 Nov

Bank Of England Trying To Curb Inflation Without Too Much Pain-Pill

wontumionlineBusinessBank Of England

The Bank of England is trying to bring down inflation without causing too much pain to Britain's economy, Chief Economist Huw Pill said on Friday, a day after the BoE hiked borrowing costs sharply and warned of a long recession. "What we are seeking to do, we're always seeking to do, is to find that balance that gets us back to our 2% inflation target without generating unnecessary and costly problems in the real side of the economy," Pill told CNBC television. "Creating that balance, signalling that balance, that was really our key message yesterday." On Thursday, the BoE raised…