Andrew Tyrie asks Mark Carney to clarify Bank of England monetary policy committee conflict of interest rules August 25, 2015 The chairman of an influential parliamentary committee has asked Bank of England governor Mark Carney to reconsider rules surrounding membership of the Bank’s monetary policy committee (MPC). Andrew Tyrie, who chairs the Treasury Select Committee, wrote to Carney today about the appointment of Gertjan Vlieghe, a senior economist at the hedge fund Brevan Howard, to [...]
Over three quarters of UK households anticipate the Bank of England to increase interest rates in the next 12 months August 19, 2015 Over three quarters of UK households expect the Bank of England (BoE) to raise the interest rate in the next 12 months, according to the Markit Household Finance Index. The August survey indicated UK households are continuing to bring forward expectations regarding the next interest rate rise by the Bank of England. Read more: Super [...]
Outgoing BoE official says interest rates to rise “pretty soon” August 19, 2015 Outgoing Bank of England (BoE) rate-setter David Miles has said that the time for interest rates to rise from the record low is drawing closer. Speaking during an interview on BBC Newsnight Miles, who has already cast his final vote as member of the monetary policy committee (MPC), said that rates would rise "pretty soon", adding: "I don't think it's [...]
UK inflation: Business groups IoD and BCC split over when BoE should raise rates August 18, 2015 Two of Britain's biggest business groups have clashed over when the Bank of England (BoE) should raise interest rates, after today's inflation data. Official data released this morning showed inflation unexpectedly rose 0.1 per cent in the year to July. But this remains well below the BoE's target for two per cent. At the same [...]
Bank of England analysts believe Twitter could help predict a bank run, early signs of unemployment data and market movements August 18, 2015 Bank of England analysts believe Twitter and other social media give “much potential for central banks” to predict market movements, indicate unemployment data ahead of time and even give signs of an impending bank run. In the run-up to the Scottish independence referendum a team of analysts and IT experts within the BoE built [...]
Bank of England policymaker Kristin Forbes warns against keeping interest rates low for too long August 17, 2015 Bank of England policymaker Kristin Forbes has warned keeping interest rates low for too long risks undermining Britain's economic recovery. Earlier this month, when the monetary policy broke unanimity and voted 8-1 to hold rates, Forbes chose to stick with the majority. The US economist and external member of the monetary policy committee (MPC) said there [...]
Bank of England deputy governor Ben Broadbent says “no urgency” to raise rates; would be “foolish” to pre-announce interest rate hike date August 7, 2015 Bank of England (BoE) deputy governor Ben Broadbent has played down expectation that there could be a rate rise by the end of 2015. Mark Carney's second-in-command this morning said his boss's speech "did not say we can expect a rate rise around the turn of the year", adding it was "impossible" and "foolish" to pre-announce [...]
Super Thursday: Five key takes from the Bank of England’s inflation report August 6, 2015 The Bank of England's first data dump landed with a thud today after both the minutes from its monthly interest rate meeting and its inflation report struck an unexpectedly dovish tone. Analysts had been expecting at least two members of the nine-strong monetary policy committee to vote for an interest rate rise for the first [...]
Bank of England Super Thursday: Website struggles under pressure August 6, 2015 Bank of England governor Mark Carney and co's unprecedented data dump has heaped pressure onto the bank's servers, meaning users struggled to access its website at the stroke of noon. Rather than having a fortnight to digest the various releases, central bank watchers rushed to read the interest rate decision, minutes of the interest rate [...]
Bank of England: Taylor Wimpey, Persimmon and Barratt Developments share prices rise after not-so-super Thursday August 6, 2015 Shares in housebuilders were boosted today after the Bank of England's historic "data dump" struck an unexpectedly dovish note. Taylor Wimpey shares rose 2.19 per cent to 200.5p per share, while Persimmon was 1.22 per cent higher at 2,079p per share and Barratt Developments was 1.4 per cent higher at 650p per share. Read more: Mortgage [...]