so this year given the bank's performance. Barclays headline profits rose 12% to 5. 5 million last year slightly ahead of City forecasts as costs came down faster and the high street bank and Barclaycard performed strongly. European Central Bank to start QE next weekDetails of the ECB's long awaited quantitative easing programme were revealed by bank President Mario Draghi on Thursday. He told a news conference in Cyprus that it would make it first purchases under the 1. 1 trillion plan on March 9.
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He used the event to say that the ECB now expected growth of 1. 5% this year, instead of the 1% it had forecast earlier, while next year will see growth of 1. 9%, rather than 1. 5%. Bank of England to face Fraud Office probeThe Serious Fraud Office confirmed on Thursday that it is investigating the Bank of England over possible rigging of auctions it held during the financial crisis. The probe, thought to be the fraud watchdog's first formal inquiry into the central bank, is focusi.
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