Bank of England to launch new blog “Bank Underground” June 18, 2015 The old lady of Threadneedle street will lift up her skirt tomorrow with the launch of a new staff blog entitled "Bank Underground". The blog, named after the nearby tube station, will let Bank of England staff write editorials which support, as well as challenge, existing orthodoxies. Previously, Bank of England staff were limited to communicating with [...]
End Austerity Now: Far left group Class War organises separate Bank of England demo amid claims that police are banning people from the march June 18, 2015 Far left group Class War is organising a counter-protest against austerity this Saturday (June 20), claiming the main demonstration will fail to bring about any change. The group has called for supporters to meet outside Bank of England at midday – an hour ahead of the time scheduled for the march being organised by [...]
Think tank slams Bank of England stress tests for being far too weak June 17, 2015 A think tank has called for an end to regulatory stress tests on banks, saying they are “sleep- walking” the sector into another financial crisis. The Adam Smith Institute, a free market think tank, said the annual Bank of England tests – which are used to gauge the resilience of banks to volatile financials scenarios [...]
Bank of England Monetary Policy Committee meeting minutes show members vote 9-0 to keep rates unchanged in June June 17, 2015 The Bank of England's Monetary Policy Committee voted 9-0 to keep interest rates unchanged at its meeting ending June 3 minutes released today have shown. Read more: UK shrugs off deflation as prices rise 0.1 per cent in May All nine members voted to hold interest rates at 0.5 per cent, although two members said their [...]
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, [...]
Bank of England’s Ian McCafferty says time for interest rate rise nearing June 12, 2015 Bank of England official Ian McCafferty has said the time for an interest rate hike is drawing closer, with the factors keeping a lid on inflation are expected to fade "as we move into next year". "The economy is starting to return to more normal conditions, after arguably the biggest shock in over a hundred [...]
EU in/out referendum: Labour wants Bank of England to publish the costs of Brexit June 10, 2015 The Bank of England and the Office for Budget Responsibility (OBR) should publish an assessment of the economic impact of Britain leaving the European Union at least 10 weeks before an in/out referendum, the Labour party has said. Labour backed the EU referendum bill at its second reading on Tuesday, but it is understood that [...]
Bank of England Fair and Effective Markets Review: Tens of thousands more City workers to be covered by the senior managers regime June 10, 2015 The Bank of England (BoE) today unveiled a set of tough new market rules which will increase individual responsibility among banks' senior managers and lengthen jail sentences for market abuse. Read more: Why the financial system has the same qualities as cancer Recommendations from The Fair and Effective Markets Review include extending the senior managers regime [...]
Bank of England says inflation expectations rose in May June 5, 2015 Inflation expectations over the coming year rose to 2.2 per cent in May, from a 13-year low of 1.9 per cent in February, according to a closely-watched survey released today by the Bank of England. Additionally, expectations over the next two years rose to 2.3 per cent from 2.1 percent, and were unchanged at 2.8 [...]
Former Barclays chiefs Sir David Walker and Martin Taylor clash in Bank of England ringfence row June 3, 2015 A pair of big City beasts clashed yesterday over the incoming ringfence, designed to split retail from investment banking, one of the key structural reforms being introduced after the financial crisis. To make matters more juicy, they are both former bosses of Barclays. Sir David Walker, chairman from 2012, in the wake of the Libor [...]