Bank of England staff have been told their ‘Wellbeing Centre’ will close if they don’t learn how to use the loos properly. Welcome to silly season…
An email went round to staff today:
“Dear Member,
We have had two incidents this week of faeces found on the floor of the showers and toilets in the Wellbeing Centre Gents changing rooms. This is unacceptable and will not be tolerated.
Should this continue, we will be forced to temporarily suspend some services/facilities.
Kind regards
[REDACTED]
Bank of England Wellbeing Centre”
The Bank is also under fire this week after the Telegraph reported that 1,040 employees were allowed to work from abroad and they spent more than 12 days doing so last year. It’s no fun working from the beach – sand gets in your laptop – unless of course they aren’t working at all…
The taxpayer is of course funding this gym, internal occupational health, and fitness facility located in the basement vaults of the Bank of Threadneedle Street. Callum McGoldrick, Investigations Campaign Manager at the TaxPayers’ Alliance, said:
“Bank of England staff should be focused on sorting out the economy, not making a complete mess of their own changing rooms. Bosses need to clean up their act… literally.”
When they said the institution was a busted flush…
The Monetary Policy Committee of the Bank of England has voted to hold interest rates at 3.75% for the fifth time. It voted by a majority of 6–3 (hawkish) to maintain the rate against a hike. Inflation fell by more than expected. Read the full remarks here…
The Monetary Policy Committee of the Bank of England has voted to hold interest rates at 3.75% for the fourth time. As expected…
Seven votes for hold and two votes for a hike. “Bank staff estimated that underlying quarterly GDP growth had been around 0.2% in Q1, and would remain at around that rate in Q2.” Read the full remarks here…
The Monetary Policy Committee of the Bank of England has voted to hold interest rates at 3.75%. As expected…
Eight votes for no change, down from nine, and one vote for a 25 basis point hike. A shift in position…
A well-timed update from the Bank of England’s Financial Policy Committee has stated today that the Iran war is making the UK gilt market particularly vulnerable. In addition to the dim view bond traders take of the Reeves rollercoaster…
The committee says the war in general represents a “substantial negative supply shock” to the global economy: “The conflict has made the global environment materially more unpredictable and followed a period in which global risks were already elevated. This increases the possibility of large, frequent and potentially overlapping shocks and periods of intense volatility.” In case you supposed otherwise…
It went further to note that the most leveraged hedge funds in UK gilts also hold large positions in US Treasuries and European government bonds in high-risk concentrations: “Cross-market positions, in addition to firms pursuing similar strategies, increased the risk of disorderly unwinds causing jumps to illiquidity in core UK markets, including through cross-border spillovers.” The BoE also warns of large gilt selloffs as share prices drop…
Buried at the end the committee says it wants to reduce its legally required minimum meetings from four to three per year. Feeling gilty…
The Monetary Policy Committee of the Bank of England has voted to hold interest rates at 3.75%. A unanimous vote…
Former Treasury minister and adviser to Burnham in the Makerfield campaign Lord Jim O’Neill, who has turned down a role in his government, said Burnham’s first statement Commons was:
“The last thing investors wanted to hear… gilt yields have risen by a 0.25% in one day, which is a lot. We’ve not had that since Liz Truss days… If your country is under the focus of ‘can they come up with a sensible fiscal strategy’ on a day when the markets think ‘well no, you’re not showing any sign of it’ you’re going to have a tough day…if it stays like this your mortgage rate is going up.”