Tag: Bank of EnglandBank of England
The Bank of Canada has named long-term bureaucrat and economist Stephen Poloz as its new head, replacing Mark Carney who is going to run the Bank of England. Mr Poloz was a surprise choice as many observers expected Mr Carney's senior deputy, Tiff Macklem, to succeed him.
The UK Financial Services Authority repeatedly failed to act on warnings that banks were trying to rig inter-bank lending rates (mainly Libor) at height of the financial crisis, according to an internal review published Tuesday by the regulator.
Bank of England has chosen not to inject any more money into the economy, leaving its quantitative easing (QE) programme at £375bn. The Bank also left interest rates unchanged at 0.5%.
Disappointing figures on industrial production and construction in November have added to fears that the UK economy contracted in the last quarter of 2012. The index of production grew 0.3% in November, compared with October, but had been expected to grow more as some North Sea oil and gas production resumed following maintenance.
The Bank of England on Thursday decided not to extend its quantitative easing (QE) stimulus program, which has injected £375bn into the UK financial system. It is also keeping its key interest rate unchanged at 0.5%, where it has been since March 2009.
The Bank of England has decided not to extend its quantitative easing (QE) stimulus program, which has injected £375bn into the UK financial system.
Mark Carney has been named as the new Bank of England governor, who will replace outgoing head Sir Mervyn King. The role of the governor is the most important unelected position in Britain, and is chosen by the British Government.
The Bank of England has decided not to extend its quantitative easing (QE) stimulus program, which has injected £375bn into the UK financial system. Under QE, the Bank creates money and uses it to buy government bonds to try to stimulate the economy.
Governance of the Bank of England is defective, according to the chairman of the Treasury Committee following the publication of three independent reviews into the Bank's performance. Andrew Tyrie said the reviews were too little, too late.
UK Labour leader Ed Miliband has indicated that a threat by banks to move abroad would not deter him from breaking them up if they did not agree to revolutionise their operations and put ordinary customers first.