Bank of England’s new interest rate norm not the same as the old – Mark Carney June 27, 2014 Mark Carney, the governor of the Bank of England, today suggested that interest rates may be heading for a "new normal" of 2.5 per cent, rather than the historical five per cent. Carney was decidedly vague regarding when this norm might be reached, suggesting 2017 as a possible date. He stressed that a mid-term norm [...]
MP Pat McFadden tells Mark Carney: You’re like an unreliable boyfriend June 24, 2014 The Bank of England was slammed by MPs yesterday, taking fire for erratic communication on when interest rates would likely begin to rise. Governor Mark Carney and other senior policymakers sent sterling down during their quizzing by politicians yesterday. Some analysts suggested that the policymakers were backing away from their new hawkish stance, with more [...]
Mark Carney to decide on property market limits June 23, 2014 The Bank of England’s latest report on the country’s financial stability is released this week, with the potential for fresh action to cool London’s frothy housing market. The Bank’s financial policy committee (FPC), which is chaired by governor Mark Carney, releases its twice-yearly outlook in systemic stability on Thursday. The governor and other policymakers have [...]
How Mark Carney’s move from Canada cost the Bank of England over £100k June 17, 2014 The Bank of England paid £102,816 to assist governor Mark Carney and his family in their move from Ottawa, Canada, to London, according to the Bank of England's latest annual report. The ex-Goldman Sachs staffer moved over to the UK with his wife Diana and four daughters last year. He even brought with him his [...]
Hawkish Mark Carney sends pound to five-year peak against US dollar June 16, 2014 The pound pushed above $1.70 during trading yesterday, hitting this level for the first time in five years, following Bank of England governor Mark Carney’s hawkish comments last week. On Thursday night, Carney told diners at Mansion House that the Bank’s first post-crisis rate hike could come “sooner than markets currently expect”, a clear departure [...]
Mark Carney – Prepare for a rise in interest rates June 12, 2014 Bank of England governor Mark Carney shocked markets last night by revealing that interest rates might be hiked this year – a stark turnaround from his usual position of talking down the possibility. Addressing an audience of City grandees at the annual Mansion House dinner, the 49-year-old Canadian said the Bank could start to bring [...]
Ships ahoy for Mark Carney at Mansion House Banquet for Bankers June 12, 2014 Mark Carney’s adventurous side came out at the Lord Mayor’s Banquet for Bankers last night in Mansion House. The governor of the Bank of England executed a perfect dive into the white waters of nautical analogies, bravely choosing a canoe as his vessel of choice (so very Canadian). “Rather than appeal to the stately Duchess [...]
Why Mark Carney will be hoping his World Cup analogy isn’t too precise May 14, 2014 The Bank of England's governor has brought back an old favourite to the central bank's press conferences: sport analogies. Mark Carney has suggested that securing the UK's economic recovery so far has been "like making it through the qualifying rounds of the World Cup". A major achievement, but not the ultimate goal. The "real tournament" [...]