David Milliken

Britain's Chancellor of the Exchequer Rachel Reeves speaks during the Confederation of British Industry annual conference, in London, on Nov. 25. ADRIAN DENNIS/AFP/Getty Images

LONDON (Reuters) -The Bank of England said on Friday that a stress test of central counterparties (CCPs)- businesses that form a key part of the plumbing of financial markets - did find some vulnerabilities but overall showed resilience. The stress test focused on the credit resilience of the clearing services provided by ICE Clear Europe, LCH - part of LSEG, and LME Clear, which is owned by Hong Kong Exchanges and Clearing Ltd. "The stress test results do not suggest that this is a cause for concern, but we continue to monitor CCPs resources through ongoing data collection and supervision," Bank of England Deputy Governor Sarah Breeden said.

David Milliken 1 min read By David Milliken LONDON (Reuters) - A gauge of British manufacturing activity released on Monday

Dhingra joined the BoE's Monetary Policy Committee in August 2022 and consistently voted for a slower pace of tightening than her MPC colleagues

The downturn was sharpest in consumer services – where large employers will bear the brunt of a 25 billion pound ($32 billion) rise in payroll

David Milliken 2 min read By David Milliken LONDON (Reuters) - Job vacancies have dried up faster in the United Kingdom than

Investors added slightly to their bets on interest rate cuts by the Bank of England next year and sterling weakened as official data showed consumer prices rose by an annual 2.6% in November

The Bank of England looks set to hold interest rates at 4.75% on Thursday, despite signs of a slowing economy, as persistent inflation pressures limit it to a "gradual" approach towards cutting borrowing costs.

The Bank of England kept its main interest rate unchanged at 4.75% on Thursday but policymakers became more divided about whether rate cuts were needed to tackle a slowing economy. But BoE Governor Andrew Bailey said the central bank needed to stick to its existing "gradual approach" to cutting rates. "With the heightened uncertainty in the economy we can't commit to when or by how much we will cut rates in the coming year," he said.

The Bank of England building, in London, on Nov. 7. HENRY NICHOLLS/AFP/Getty Images Listen to this article