Mark Carney silent on Bank of England’s mystery dove as he predicts interest rate hikes February 24, 2015 Interest rates will rise gradually over the next two years, Mark Carney told MPs yesterday, playing down the chance of another rate cut. One member of the monetary policy committee (MPC) is tempted to vote for a rate cut, according to the minutes of its last meeting. However, Bank of England governor Carney refused to [...]
Our key takeaways from Mark Carney’s speech on UK interest rates February 24, 2015 During a speech to MPs earlier today, Bank of England governor Mark Carney said an interest rate hike before the end of the year looked likely. Reading out highlights from the central bank's quarterly inflation report, he told parliament’s treasury select committee that the rise would take place despite low consumer inflation, which [...]
Bank of England’s Mark Carney: Interest rate cut is possible as UK heads toward deflation February 12, 2015 Bank of England governor Mark Carney revealed yesterday that interest rates could drop even further below their historic low of 0.5 per cent, as the collapse in global oil prices drags Britain towards deflation. In a mandatory letter to chancellor George Osborne, Carney said that if “global activity continues to disappoint, or if low inflation [...]
Bank of England Governor Mark Carney: “No room for complacency” in global banking reform February 9, 2015 Bank of England governor Mark Carney has cautioned against slowing the pace of global banking reforms, saying the financial system is more resilient than during the financial crisis, but there's still "no room for complacency". Speaking in his role as chairman of the Financial Stability Board (FSB), a body which monitors the global financial system, [...]
Mark Carney’s struggle to master his words – CNBC Comment February 2, 2015 Once upon a time, you needed to be Alice in Wonderland to vanish down a rabbit hole. Nowadays, we are all falling in head first – thanks to a bunch of central bankers. But as we’re down here in this inverted QE world, Bank of England governor Mark Carney should probably heed the words of [...]
Mark Carney calls on Germany to foot Eurozone’s risk January 28, 2015 Eurozone countries should share more risks and allow taxpayers’ money to circulate more freely as it does between countries in the UK, Mark Carney said in an unusually outspoken address last night. The Bank of England governor hinted that Greece’s troubles would be less severe if it could access more German money, comparing the situation [...]
Mark Carney slams Eurozone austerity and urges common fiscal policy January 28, 2015 Mark Carney has launched a withering attack on the Eurozone's pursuit of austerity and urged a new course for European fiscal policy. Speaking in Dublin, the governor of the Bank of England warned the Eurozone could suffer another lost decade of stagnation and unemployment. "Since the financial crisis all major advanced economies have been in [...]
Mark Carney: Scotland can ride oil price drop thanks to Union January 14, 2015 Bankof England (BoE) governor Mark Carney yesterday said that falling oil prices were a negative shock to the Scottish economy. “While it is a net positive to the UK economy – the change in the oil price – it is a negative shock to the Scottish economy,” Carney said. However, Scotland’s economic fortunes are reassured [...]
Mark Carney says deflation is possible and wouldn’t be a problem, refuses to be tied to date for interest rate hike January 13, 2015 Mark Carney has tonight refused to rule out the UK entering deflation after figures from the Office for National Statistics revealed the Consumer Price Index slowed to just 0.5 per cent in December. Speaking to ITV, the governor of the Bank of England said that deflation was possible “in a given month on a year-on-year [...]
Mark Carney set to write inflation letter next month January 12, 2015 INFLATION is expected to have dropped too far below the Bank of England’s target, prompting an embarrassing letter from Mark Carney to George Osborne to explain what went wrong. But instead of sending the letter the moment the inflation data is published – at 9.30am this morning – the governor of the Bank will now [...]