Mark Carney

FSB eyes new rules to end too-big-to-fail banks

FSB eyes new rules to end too-big-to-fail banksGeneva : The Financial Stability Board, a global banking watchdog, proposed Monday new rules that would push mega-banks to double their financial buffers in order to shield economies and taxpayers if they collapse.

The proposed rules are "a watershed in ending `too big to fail` for banks," said Mark Carney, FSB chairman and head of the Bank of England.

The new regulations are meant to help avoid a repetition of the 2008 crisis sparked by the Lehman Brothers collapse, which shook the global financial sector to its core.

UK economic growth to return to pre-crisis levels

UK economic growth to return to pre-crisis levelsThe UK economic growth is expected to return to re-2008 crash levels by the second quarter of 2014, according to British Chambers of Commerce.

Officials have also said that the high youth unemployment and debt continues to remains an issue for the UK economy. The British economy recorded a growth rate of 2.8 per cent for 2014 compared to the previous forecast of 2.7 per cent for the year. Experts have said that there are still concerns that are required to be resolved in order to boost growth in the country.

Network Rail sorry for level crossing accidents

Network RailNetwork Rail has said that it is sorry for accidents on its level crossings across the country admitting that the company failed in managing public safety.

Chief executive Mark Carne has apologised for "failings" in managing public safety and for "failing to deal sensitively" with affected families. The company offered a full and unreserved apology to the family affected by the accidents.

BoE not looking to increase rates soon, says Carney

BoE not looking to increase rates soon, says CarneyMark Carney, the governor of the UK's central bank has said that the Bank of England is not looking to increase its key interest rates soon.

He affirmed that the central will only start increasing rates when the UK economy shows signs of operating at full capacity. The central bank had said that it will consider a range of measures while deciding if it is aiming to increase interest rates.

Forward guidance on interest rates will “evolve” next month, Carney

Mark CarneyMark Carney, the Governor of the Bank of England has said that the forward guidance on interest rates will "evolve" next month.

He dismissed expectations of an imminent rate rise in the UK and said that the Bank's Monetary Policy Committee and the policy makers will consider a range of options in the coming month for the strategy for the UK's central bank. He said that the level of stimulus will remain exceptional for some time and pointed out when it will be appropriate to increase rates, the hike will be gradual.

Bank of England to keep its interest rates at 0.5%

Bank of England to keep its interest rates at 0.5%UK's central bank, the Bank of England has indicated that it will keep its interest rates at the record low level of 0.5 per cent.

Carney dismisses proposal to limit bankers’ bonuses

Mark CarneyMark Carney, the governor of the Bank of England, has dismissed proposals to cap bankers' bonuses and described it as a crude measure that is expected to fail to meet its objectives.

He said that the move will simply enable to the banks to increase the basic salaries of its executives in order to retain talent. The remarks were made at a time when the Royal Bank of Scotland is planning to give senior staff bonuses worth twice their salaries.

BoE keeps its forward guidance policy unchanged

Bank of EnglandUK's central bank, the Bank of England (BOE) has now made any changes to the forward guidance policy this month and kept its interest rates at their current low level during January.

UK unemployment falls to 7.4 per cent

UK unemployment fallsAccording to the latest figures released, the unemployment rate in the UK has fallen to 7.4 per cent during the three months till October, 2013. The Office for National Statistics (ONS) said that the unemployment fell to 7.4 per cent during the quarter compared to 7.6 per cent recorded during the quarter till September, 2013.

Carney dismisses suggestions of stagnation

Carney dismisses suggestions of stagnationBank of England Governor, Mark Carney has dismissed suggestions that the advanced economies are facing stagnation.

Mr Carney dismissed a theory put forward by former US Treasury Secretary Larry Summers that advanced countries are facing an innovation barrier that would severely restrict their ability to grow in the coming future. Mr Carney pointed out that flexible labour markets and openness to global trade and investment flows would allow the UK to record strong growth in the coming months.

Carney committed on keeping interest rates low

Carney committed on keeping interest rates lowMark Carney, the governor of the Bank of England has indicated that the central bank is likely to keep interest rates low even after risks of housing bubble or a fall in unemployment.

BoE not looking to cut rates soon

BoE not looking to cut rates soonUK’s central bank, the Bank of England has indicated that it is not looking to cut interest rates soon as the economy continues in its path of recovery.

Bank of England Governor Mark Carney has indicated that he is not planning to raise interest rates in soon even as the Britain's economic outlook improved over the previous three months. The central bank of the country is set to release fresh forecasts today as it looks to revise its growth outlook and predict lower unemployment and inflation than three months ago.

Tyrie wants BOE to clarify its authority relating to ‘Help to Buy'

Andrew TyrieAndrew Tyrie, the chairman of the Treasury Committee has asked the Bank of England to clarify what powers it has to protect the UK from the property bubble.

Tyrie has written a letter to the Bank Governor Mark Carney asking for clarification on what role is the central bank going to play in monitoring the new phase of the Government's Help to Buy scheme. Leading banks have said that they will participate in the scheme in order to boost the housing market by allowing people to benefit from government backed mortgages.

UK’s growth is driven by housing market, says Carney

Mark CarneyBank of England Governor Mark Carney has indicated that he believes that the strong economic recovery in the UK is backed by the revival in the country's housing market.

While speaking to a media outlet, he said that most of the growth in the economy is coming fromt eh momentum in the housing market. The Office for National Statistics said that the British economy grew 0.8 per cent during the three months till 30, September, 2013. The growth is higher than 0.7 per cent recorded in the previous quarter and mostly in line with expectations.

Regulators to monitor hedge funds, housing market

Regulators to monitor hedge funds, housing marketThe financial policy committee (FPC) of the Bank of England has said that it will monitor hedge funds and the UK housing market due to potential vulnerabilities even as it dismissed suggestions that the housing market is heading towards a property bubble.

UK economy grows faster than expected during second quarter

UK economy grows faster than expected during second quarterAccording to the latest figures released, The UK economy recorded a faster than expected growth rate of 0.7 per cent during the second quarter of the year from April to June backed by strong exports.

BEO to keep interest rates unchanged till 2016

BEO to keep interest rates unchanged till 2016The new Bank of England governor Mark Carney has indicated that the central bank could keep its interest rates low until 2016.

Experts have said that the low interest rates could put savers and pensioners in a disadvantageous positions they would earn lesser interest on their savings. On the other hand, it would benefit borrowers and investors as they have to incur fewer expenses on interest payments. It would affect the people approaching retirement and potentially buying an annuity or anyone running a pension scheme, according to experts.

BoE to keep interest rates low until unemployment falls to 7%

BoE to keep interest rates low until unemployment falls to 7%Mark Carney, the governor of the Bank of England has assured investors and borrowers in the country that the interest rates would remain low in the country until the economy shows strong signs of recovery.

Carney to unveil new guidance for setting interest rates

Carney to unveil new guidance for setting interest ratesMark Carney, the governor of the Bank of England is set to unveil new guidance for setting interest rates on Wednesday.

The central bank under his leadership has indicated that the bowing costs will be maintained at lower levels until strong growth returns to the economy. Carney is aiming to convince investors and businesses that the interest rates will not be increased until the economy returns to a strong growth trajectory.

BoE to adopt forward guidance for financial markets

BoE to adopt forward guidance for financial marketsThe Bank of England (BoE) under the new leader Mark Carney is set to adopt the formal forward guidance for financial markets.

The minutes from the latest meeting of the central bank's Monetary Policy Committee showed that all the members voted against more quantitative easing. The central bank is aiming to keep its £375bn asset-purchase programme on hold following all its members including new Governor, Mr Carney as well as Paul Fisher and David Miles, who earlier voted in favor of more stimulus, expressed their vote against additional stimulus.




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