Bank of England Raises Interest Rates to 1.25%

The Bank of England has announced it is raising interest rates again to 1.25%, a 0.25% increase since last month – although lower than the 0.75% increase the Fed introduced yesterday. Inflation is now expected to peak at 11% in October. The fifth hike in a row…

mdi-timer 16 June 2022 @ 12:03 16 Jun 2022 @ 12:03 mdi-twitter mdi-facebook mdi-whatsapp mdi-telegram mdi-linkedin mdi-email mdi-comment View Comments
Bank of England Raises Interest Rates to 1%

The Bank of England has confirmed it will raise interest rates to a 13-year high of 1% in a bid to tackle soaring inflation. They are now forecasting double-digit inflation last seen in the seventies. A rise of 0.25 percentage points, and the fourth hike in a row. It won’t be the last…

mdi-timer 5 May 2022 @ 12:01 5 May 2022 @ 12:01 mdi-twitter mdi-facebook mdi-whatsapp mdi-telegram mdi-linkedin mdi-email mdi-comment View Comments
NEW: Bank of England’s ‘Inclusive’ Rebrand Cost Taxpayers Over £51,000

A Freedom of Information (FoI) request by Guido has uncovered the total cost of last month’s Bank of England “inclusive” logo and font rebrand was – and brace yourself for this – £51,694.49. The public sector Bank of England must be made of money…

The rebrand, which included a new Britannia logo, font, “photography for the visual identity” and a film about the new rebrand, broke down as follows:

  • Design of Britannia symbol: £6,720.00 – Epic Icons
  • Photography for the visual identity: £14,809.27 – Lee Funnell
  • Font design and licence of usage: £22,337.22 – Monotype Limited
  • Animation guidelines and film: £7,728 – RedSofa

As part of the FoI, Guido also asked for the Bank to specify exactly what about their new Britannia they claim to be more inclusive – beyond it now bearing a striking resemblance to Nicola Sturgeon.

Their answer is as follows:

  • “Our new Britannia symbol is now readable for mobile users and also better reflects our current mission and values
  • The key changes we have made are to replace the St George’s Cross on the shield with a Union Flag, and to remove the coins (the latter also helps us to increase the size of the Britannia within the symbol)”

Thank goodness the St George’s cross and the pile of cash is now gone. Those would have been an outrageously anachronistic logo choice for the, errrm, Bank of England…

mdi-timer 5 April 2022 @ 14:27 5 Apr 2022 @ 14:27 mdi-twitter mdi-facebook mdi-whatsapp mdi-telegram mdi-linkedin mdi-email mdi-comment View Comments
Bank of England Splashes Taxpayer Cash Going Woke

One might hope the Bank of England’s primary focus at the moment would be using its monetary levers to counter inflation and help alleviate the cost of living crisis. The team over at Threadneedle Street have been working on a different priority, however: making the 328-year-old Britannia logo more inclusive. Usually this would be easily mockable, however Guido can’t for the life of him work out exactly how the updated logo is any more inclusive than the last…

It’s still Britannia with a spear and shield, the branch has fewer leaves and, bizarrely for a bank, the pile of cash is gone. She does now bear a striking resemblance to Nicola Sturgeon however…

They haven’t stopped there! Take a look at their new bespoke font for the website, which stands in huge contrast to the previously illegible, off-the-shelf typeface:

Guido rang the press office to double-check whether they’d be releasing the cost of the pointless redesigns, unsurprisingly they said no. An FoI has been duly submitted…

mdi-timer 3 March 2022 @ 14:57 3 Mar 2022 @ 14:57 mdi-twitter mdi-facebook mdi-whatsapp mdi-telegram mdi-linkedin mdi-email mdi-comment View Comments
Inflation Hits 5.1%

The rate of Consumer Price Index inflation increased to 5.1% in November from 4.2% in October, the Office for National Statistics reports this morning. Significant in that it will increase the pressure on the Bank of England to raise interest rates…

 

mdi-timer 15 December 2021 @ 07:27 15 Dec 2021 @ 07:27 mdi-twitter mdi-facebook mdi-whatsapp mdi-telegram mdi-linkedin mdi-email mdi-comment View Comments
Unemployment Rate Falls to 4.3% Despite End of Furlough

The UK’s unemployment rate fell to 4.3% in October – near pre-pandemic levels – despite the furlough scheme wrapping up at the end of September. The total number of jobs is now 235,000 higher than the pre-Covid level recorded in February 2020. Yet more job-timism…

According to ONS figures released this morning, the number of payrolled employees jumped by 160,000 between September and October, with very few employees losing their jobs or leaving the workforce. Job vacancies have also reached a record high…

The news has prompted fresh claims that the Bank of England is now more likely to raise interest rates to tame inflation, as had previously been expected earlier this month. Yesterday Governor Andrew Bailey claimed that unemployment rates looked “lower than our forecast would imply”, though didn’t confirm the move outright. The Bank will meet to discuss a potential change on 16the December. Guido’s old enough to remember the British Chamber of Commerce claiming one in five firms were planning job cuts ahead of the furlough tapering…

mdi-timer 16 November 2021 @ 08:51 16 Nov 2021 @ 08:51 mdi-twitter mdi-facebook mdi-whatsapp mdi-telegram mdi-linkedin mdi-email mdi-comment View Comments
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