MPs to grill Bank’s Mark Carney on Osborne interest rate pact claim August 18, 2014 Bank of England governor Mark Carney will be quizzed by MPs next month over whether he has faced any political pressure to keep interest rates at their historic low. Carney and chancellor George Osborne have been hit by suggestions this week that they struck a deal to keep rates low until after the election. Mark [...]
George Osborne and Mark Carney hit by interest rate stitch-up row August 18, 2014 City MP Mark Field last night questioned the independence of the Bank of England, sensationally suggesting that governor Mark Carney and chancellor George Osborne had made a pact that would ensure interest rates remained at their historic low until next year’s general election. A Treasury source hit back, saying “The idea that there is some [...]
When will UK interest rates rise? Not anytime soon according to MPC member David Miles August 14, 2014 Don't expect the Bank of England (BoE) to be raising interest rate anytime soon. That is the message from monetary policy committee (MPC) member David Miles this morning. Miles said that a subdued outlook on inflation means the BoE will not be pushed into increasing the interest rate, which has been held at 0.5 [...]
Scottish independence currency contingency plans in place, says Bank of England’s Mark Carney August 13, 2014 Contingency plans have been made by the Bank of England ahead of the Scottish referendum in response to uncertainties over the country’s currency if it becomes independent. Bank of England governor Mark Carney said the body had "a wide range of tools and plans" to deal with any financial issues arising from the referendum, regardless [...]
Interest rate rise will be gradual and limited, says Mark Carney August 13, 2014 The Bank of England (BoE) has raised its 2014 growth forecast from 3.4 per cent to 3.5 per cent. However, those hoping for a rapid rise in rates will be disappointed thanks to weaker than expected growth in wages. The Bank now expects earnings to rise by just 1.25 per cent for 2014. [...]
Mark Carney’s marathon metaphor moment: Sports back but it’s just not cricket July 23, 2014 We’ve learnt over the past year, in a similar vein to his predecessor, Mark Carney doesn’t need a sporting event to make a sporting reference in his official orations. But yesterday the Bank of England governor had more reason than any other time – as he spoke in Glasgow at the start of the Commonwealth [...]
Mark Carney: My Mansion House speech was designed to shake up markets July 15, 2014 Remember that Mansion House speech when Bank of England governor Mark Carney shocked markets by saying that interest rates could come sooner than expected? Well that was exactly the point. Replying to a question from MPs on the Treasury Select Committee about whether the surprise statement made in the Mansion House speech was to "shake [...]
Mark Carney cancels cricket but Bank of England isn’t short on cake July 7, 2014 Mark Carney may have caused a stir by banishing the traditional Bank of England summer cricket match this year, but by all accounts staff had a great day out, replete with face-painting, wheel-barrow races, the Wimbledon final on a big screen and a bake-off. The governor, described by one tweeter as a “very [...]
Mark Carney makes first key cut as Bank of England governor July 6, 2014 Mark Carney has made his first cut since he walked through the door at Threadneedle Street in July. Not to interest rates – although they remain at their historic lows of 0.5 per cent – but to one of a large selection of cakes at this year's Bank of England summer party. The Bank governor [...]
Mark Carney’s Bank of England snubs staffer: Cancels cricket fun at staff party July 4, 2014 Just weeks after one colleague celebrated his love of cricket in a public speech, Mark Carney's Bank of England has confirmed that it has axed all cricket-related hijinks at its staff summer party. There will no cricket match at the central bank's summer, as first reported by Bloomberg. The move is a stark tone change [...]