Jeremy Corbyn ‘could sack Bank of England governor Mark Carney’ if he wins labour leadership and makes it to 10 Downing Street August 25, 2015 Bank of England governor Mark Carney could be out of a job if Jeremy Corbyn becomes Prime Minister, one of Corbyn’s closest advisers has claimed. Tax expert Richard Murphy, who advises the Labour leadership hopeful and is widely credited as the mastermind of so-called Corbynomics, said yesterday that the Bank is beholden to parliament. “Bank of England [...]
Treasury Committee chairman Andrew Tyrie asks Bank of England to revise code of conduct August 24, 2015 Treasury Select Committee chairman Andrew Tyrie has asked Bank of England governor Mark Carney to reexamine the rules governing the Bank’s monetary policy committee (MPC). Tyrie wrote to Carney yesterday about the naming of Gertjan Vlieghe, a senior economist at the hedge fund Brevan Howard, to the MPC. He said Vlieghe’s appointment, and the “subsequent [...]
Britain’s “making” revolution could solve our productivity puzzle August 19, 2015 It is now indisputable that the UK’s, and in particular London’s, economic recovery are well underway. But as Mark Carney, governor of the Bank of England, has rightly pointed out, challenges remain, and the most important of these is productivity. Contrary to popular assertions, productivity in the UK economy remains quite high in comparison [...]
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 [...]