Bank of England Reports Published in May 2021

PRA Regulatory Digest – May 2021 – Read the report

The PRA Regulatory Digest is for people working in the UK financial services industry and highlights key regulatory news and publications delivered for the month.

Prudential Regulation Authority Business Plan 2021/22 Read the report

The Prudential Regulation Authority (PRA) Business Plan sets out the PRA’s strategy, workplan, and budget for 2021/22.

Bank Rate maintained at 0.1% – May 2021Read the report

The Bank of England’s Monetary Policy Committee (MPC) sets monetary policy to meet the 2% inflation target, and in a way that helps to sustain growth and employment.

Covid economy: What economists got right (and wrong)

From: The BBC

What a difference a year makes. When the pandemic began, the BBC spoke to some economists to make sense of what was happening to the US economy.

We went back to those same experts to see how things played out, and what they’re keeping their eye on in the future.

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British Pound (GBP) Outlook Remains Positive Going Into The Long Weekend

From: Daily FX

Recent commentary from Gertjan Vlieghe, an external member of the Bank of England’s MPC, has underpinned Sterling against a range of currencies as the markets drift into a long weekend.

Vlieghe suggested that the central bank may look at hiking interest rates in the first half of next year if the UK labor market continued to improve.

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UK Unemployment Level Improves

From: Daily Forex

According to the United Kingdom’s Office for National Statistics, the unemployment rate stood at 4.8% in March, against the previous reading of 4.9% and expectations of 4.9%.

The number of employed people in the UK fell by 15,100, better than the previous month’s decline of 19,400 but lower than expectations of a 25,600 increase, leaving the claimant count rate at 7.2%.

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Biden’s big budget comes with a modest growth outlook for an aging country

From: Reuters

President Joe Biden’s first budget proposal comes with a big price tag – at $6 trillion, roughly 50% higher than pre-COVID-19 federal spending – but, at least for now, projects a relatively modest long-term lift to the economy, likely reflecting concerns about the aging U.S. population.

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U.S. consumer sentiment declined in May

U.S. consumer sentiment deteriorated in May as consumers grew more concerned about a pickup in inflation, a survey released on Friday showed.

The University of Michigan’s Consumer Sentiment Index fell to a final reading of 82.9 from April’s final level of 88.3, though it was little changed from May’s preliminary reading of 82.8.

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FX Rates in May


May High: 1.558
May Low: 1.388
May End: 1.1648




May High: 1.419
May Low: 1.388
May End: 1.4185



May High: 1.2242
May Low: 1.2004
May End: 1.2175