Bank of England governor Mark Carney has been appointed United Nations Special Envoy for Climate Action and Finance. Mr. Carney will take up his new post once his term as governor ends on 31 January 2020.
Alan Turing was preferred over Stephen Hawking and Margaret Thatcher to feature on the highest-denomination bills in the country. The Bank of England has selected the face of the computer science genius whose most famous breakthrough proved decisive in the outcome of World War II against Germany to appear in the new £50 note (around 62 US dollars) due to enter circulation by the end of 2021.
United Kingdom interest rate increases could be “more frequent” than expected if the economy performs as the Bank of England is expecting, governor Mark Carney says. The markets are forecasting just one interest rate increase by 2021.
The heads of two major central banks have written a stark warning about the financial risks of climate change. Bank of England governor Mark Carney and France's François Villeroy de Galhau set out the dangers to the global economy in an open letter.
The idea of a second Brexit referendum is very likely to be put before Britain's parliament again although the government remains opposed to any new plebiscite, the British finance minister said on Friday.
Bank of England governor Mark Carney has urged MPs to solve the Brexit impasse in a speech warning of growing threats to the global economy. He said a no-deal Brexit would create an economic shock at a time when China's economy is slowing and trade tensions are rising.
The Bank of England expects growth this year to be the slowest since 2009 when the economy was in recession. It is forecasting growth of 1.2% this year, down from its previous November forecast of 1.7%. The Bank said it had seen further evidence that businesses were being cautious in the run-up to Brexit, including evidence from its own survey of firms. As expected the Bank kept interest rates on hold at 0.75%.
Bank of England governor Mark Carney has warned interest rates could rise in the event of a no-deal Brexit if a cliff-edge withdrawal sends the pound into free fall. Mr. Carney said there are scenarios where policy “might need to be tightened in the event of a no deal, no transition Brexit”, should a plunge in the value of the pound cause inflation to surge and impact UK production.
Stocks in Europe reversed earlier gains by Thursday's close to finish lower, as investors digested fresh news out of the central banking sphere. The pan-European STOXX 600 closed down 0.15%, with the majority of sectors falling into negative territory. The U.K.'s FTSE 100 slipped 0.43% by the close, while France's CAC 40 ended a touch lower, off 0.08%, and Germany's DAX rose 0.19%.
Bank of England governor Mark Carney has delivered a “chilling” warning to Theresa May’s cabinet that a no-deal Brexit could lead to economic chaos, including a property crash that could see house prices fall by a third.