Super Thursday: Why business wants the Bank of England to hold its nerve August 5, 2015 As the UK’s economic recovery solidifies, the siren calls for interest rate rises are intensifying. Even the governor of the Bank of England – who no one would describe as a monetary policy hawk – has begun to prepare the ground for rate hikes in the not-too-distant future. With the US Federal Reserve set to [...]
Bank of England Super Thursday: Here’s everything you need to know August 5, 2015 Economists, analysts and investors across the City are busily preparing for Super Thursday. Rather than having a fortnight to digest various releases from the Bank of England, they'll be hit with the central bank's interest rate decision, minutes of the meeting and new economic forecasts all at once. The Bank ended what governor Mark Carney [...]
Treasury to cut Bank of England monetary policy committee meetings from 12 to eight July 21, 2015 If you've been getting fed up with months of MPC updates with no change – and let's face it, after six years of the same update, who isn't – then there's some good news. The number of monetary policy committee meetings is about to be reduced to just eight per year, down from 12. This [...]
The Bank of England could – and should– have raised UK interest rates much sooner July 20, 2015 Heartening as it was to hear the governor of the Bank of England, Mark Carney, dropping hints last week about the raising of Bank Rate, serious doubts remain over the effectiveness of the low interest rate regime in reviving the economy. Moreover, the impression continues to be given that the delay in raising rates carries [...]
Mark Carney fuels speculation of 2015 interest rate hike July 16, 2015 Bank of England governor Mark Carney last night dropped another strong hint that markets could be underestimating the likelihood of a 2015 interest rate hike. “In the current circumstances there is no need to wait to raise rates because of a risk management approach and run the risk of inflation overshooting target,” he said in [...]
Interest rate hike decision could come “at turn of the year – Bank of England Governor Mark Carney July 16, 2015 A decision on an interest rate hike – the first since the financial crisis – will be made by policymakers at the end of the year, Bank of England governor Mark Carney said in a speech on Thursday. Read more: Sterling jumps after Carney says interest rate hike "moving closer" The UK's economic recovery has [...]
Bank of England is making plans to “protect” the UK from Greece, says governor Mark Carney July 1, 2015 The Bank of England (BoE) is drawing up plans to protect the UK's financial system from the crisis unfolding in Greece, according to governor Mark Carney. Read more: Mark Carney voices concern about Greek crisis in Bank of England Financial Stability Report In an interview with Sky News, he said the central bank was [...]
Mark Carney voices concern about Greek crisis in Bank of England Financial Stability Report July 1, 2015 The Bank of England was unable to give a stable outlook for the UK’s financial stability due to the ongoing Greek crisis, in its financial stability report today, saying the risks in relation to Greece and its financial needs “were particularly acute”. Mark Carney, the Bank's governor, warned the outlook for financial stability has worsened, [...]
Bank of England governor Mark Carney’s earned £880k last year June 15, 2015 Bank of England governor Mark Carney earned £879,773 last year, the Bank of England reported today. That figure is half again as much as the £586,010 he earned in 2013/14; however, it also represents the first time he has taken his full pay after he took on the role in July 2013. Meanwhile, Andrew Bailey, [...]
Mansion House speech: George Osborne kicks starts £60bn sell-off with RBS stake June 10, 2015 Chancellor George Osborne last night kicked off a £60bn sale of state-owned financial assets, announcing he will sell a stake in bailed-out bank RBS in the coming months. The enormous wave of privatisations includes the sale of a remaining £11.5bn holding in Lloyds, while bidders including Goldman Sachs compete to buy £13bn of mortgage assets [...]