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Bank of England

Royal Bank Of Scotland Unveil GBP8bn Profits

Alex Salmond remains trapped in a currency quagmire with no way out in sight

11 August 2014 16:45

It has not been a happy few days for supporters of Scottish independence. It remains too soon to say whether – unusually – last week’s debate between Alistair Darling and… Continue reading

290 Comments
Image: Getty

Interest rates are poised to rise – which means we’ll find out how much of the recovery is real

13 June 2014 16:10

Mark Carney’s hefty hint that interest rates could rise sooner than markets anticipate is politically awkward but important, as until they do so, we shall have very little idea of… Continue reading

35 Comments
Image: Getty

The politics of interest rates

14 May 2014 8:36

The Bank of England’s inflation report will be published later this morning, which will reveal how strong the bank believes the recovery to be. All eyes will be on its… Continue reading

34 Comments
Bank Of England Cut Interest Rates To All Time Low

Inflation falls again

15 April 2014 10:06

Wages in the private sector are now rising faster than inflation. The latest CPI inflation figures show that it now down to 1.6 per cent, comfortably below the Bank of… Continue reading

9 Comments
Bank Of England Cut Interest Rates To All Time Low

Jobs for the girls

13 March 2014 11:22

Martin Vander Weyer tells an interesting tale in his Any Other Business column this week of Business Secretary Vince Cable demanding that companies appoint more women to senior positions: ‘The… Continue reading

21 Comments
Governor of the Bank of England Mark Carney. Image: Getty

An EU referendum isn’t ‘bad for the economy’ – businesses want it to happen

18 February 2014 10:30

Mark Carney has been a very successful Governor of the Bank of England. Since coming to office in June last year, the British economy has gone from strength to strength.… Continue reading

72 Comments
Bank Of England Cut Interest Rates To All Time Low

The Battle for Threadneedle Street

30 January 2014 16:13

I thought it obvious that Mark Carney’s trip to Scotland yesterday was a bad day for Alex Salmond and the Scottish nationalists. Sure, the governor of the Bank of England… Continue reading

111 Comments

Alex Salmond writes a cheque – in pounds sterling – he cannot honour

29 January 2014 9:52

As I type this, Alex Salmond and Mark Carney are chowing over porridge at Bute House, the First Minister’s official residence in Edinburgh. There is always the risk of exaggerating… Continue reading

305 Comments
Image: Getty

Carney may call for the end of Help to Buy sooner than you think

11 December 2013 11:44

Mark Carney’s speech to the Economics Club of New York yesterday made clear that very low interest rates now ‘put a premium on macroprudential policies’. Translation: he’s not going to… Continue reading

7 Comments
Mark Carney giving his first public speech last week.

Charm-y Carney shows his bookish side

2 September 2013 15:46

Mark Carney’s charm offensive continues. I hear that the new governor of the Bank of England was laying it on thick last week when he bumped into Faisal Islam, Channel… Continue reading

2 Comments
Credit Crisis Threatens Banking Jobs

The Closing of the Nationalist Mind

29 August 2013 17:52

A paper with the title Scottish Independence: Issues and Questions; Regulation, Supervision, Lender of Last Resort and Crisis Management is not one liable to set pulses racing on the streets of… Continue reading

113 Comments
Mark Carney 'chillaxes' at the Wilderness Festival this weekend.

The creepy cult of Mark Carney

13 August 2013 12:10

Of all the qualities one hopes for in a Bank of England Governor – a brilliant mind, the courage to tell politicians they are wrong, supernatural foresight – coolness is… Continue reading

38 Comments
Mark Carney has said that rates will be held until unemployment reaches 7 per cent. (JASON ALDEN/AFP/Getty Images)

Interest rates set to stay low for the foreseeable future

7 August 2013 11:20

Mark Carney made his mark this morning. Moments ago, he opened his inflation report and issued his ‘forward guidance’, which is designed to make the markets aware of his long-term plans… Continue reading

17 Comments
Mark Carney on his first day as Governor of the Bank of England. Picture: Getty

What can we expect from Mark Carney?

1 July 2013 17:36

What the Mark Carney era may offer is a little bit more predictability on monetary policy. Under Mervyn King the main guidance came from the Bank’s quarterly Inflation Report press conferences, MPC… Continue reading

5 Comments
A Maggie fiver, as imagined by MSN

If they want another woman to depict on bank notes, how about Margaret Thatcher?

27 June 2013 9:00

Jane Austen is a ‘contingency character’, we have just learnt. In his last appearance as Governor of the Bank of England before the Treasury Select Committee of the House of… Continue reading

44 Comments
Picture: Carla Millar

Sir Mervyn King to Mark Carney: You’re Worth It!

25 June 2013 13:23

Sir Mervyn King held an emotional farewell with the Treasury Select Committee this morning ahead of his move from the Bank of England to the House of Lords. Committee chair… Continue reading

11 Comments
Mark Carney's arrival at the Bank of England will have far greater significance than yesterday's Budget. Picture: Getty

Forget beer and petrol: will MPs debate monetary policy today?

21 March 2013 10:40

MPs are debating the detail of the Budget today, and will doubtless pick over some of the lines from George Osborne’s round of interviews this morning, particularly the confusion over… Continue reading

17 Comments
Mark Carney

The problem with Mark Carney

14 March 2013 14:52

In Washington last week, I encountered amazement that the Bank of England is about to be run by a foreigner. This was not because of any contempt for Mark Carney,… Continue reading

22 Comments
Paul Tucker, Deputy Governor of the Bank

The Bank of England panics and misses the point

27 February 2013 15:55

Wonders never cease. I awoke this morning to hear that the Deputy Governor, Paul Tucker, had announced that consideration should be given to the Bank of England setting negative interest… Continue reading

95 Comments
Mark Carney giving evidence to MPs today.

Mark Carney: I want a debate on inflation target

7 February 2013 15:22

If Mark Carney had any reservations about his move to Threadneedle Street later this year, he might now add to his list regular sessions with the Treasury Select Committee. His… Continue reading

9 Comments
Sir Mervyn King was pressed today on his role in the decision to transfer £37bn from the quantitative easing programme to the Treasury. Picture: Getty

Sir Mervyn defends George Osborne’s QE trick

27 November 2012 15:25

Sir Mervyn King told MPs, slightly wearily, at the end of today’s Treasury Select Committee hearing, that this was his 100th appearance before a parliamentary committee since he joined the… Continue reading

35 Comments
Picture: Carla Millar

Like the Mounties, Osborne gets his man

26 November 2012 17:09

George Osborne pulled off one of those bits of political theatre that he so enjoys today. Watching his statement in the Commons, one sensed something was up as Osborne delighted… Continue reading

23 Comments
Mark Carney, governor of the Bank of Canada, has been appointed the next Governor of the Bank of England. Picture: Getty

Osborne’s coup: Mark Carney is the new Bank of England Governor

26 November 2012 16:52

Hiring Mark Carney may just be George Osborne’s best move since becoming Chancellor. Britain badly needed a break from the failed economic consensus which still hangs around the Bank of… Continue reading

27 Comments
Zero_era

Sir Mervyn King: Quantitative easing is reaching its limit

24 October 2012 9:43

Quantitative easing isn’t an eternal elixir of economic health. That was the admission from Bank of England Governor Sir Mervyn King last night at a speech in Cardiff. Sir Mervyn… Continue reading

57 Comments
The IMF now says that UK GDP was significantly above potential from 1999 to 2008. Picture: Getty Images

The poverty of economics

9 October 2012 13:36

The IMF’s growth downgrades will make tomorrow’s newspaper headlines but the more striking point is its decision to massively rewrite British economic history. As Citi’s Michael Saunders notes (PDF), the… Continue reading

26 Comments