Mark Carney and Mario Draghi are fortunate men. Although things may appear difficult now, they could be much worse. War in Iraq, Syria and Eastern Ukraine have the potential to send oil and gas prices…
The currency model used after Irish independence could work for Scotland too.
Of all the currency arrangements cited in the debate over the future of Scotland’s currency, the ones conspicuously missing are those closest to home. While supporters and opponents of Scottish independence…
The 2007-2008 banking crash ushered in an era of austerity and pay freezes, but bank executives have continued to enjoy disproportionate rewards even though their institutions have been bailed out by taxpayers…
The news was taken badly by some bankers.
thehutch
Imagine having to wait seven years before you could be sure that what you were properly paid for your job. If it sounds like a bad deal then maybe it’s time to spare some empathy for bankers at UK financial…
Making things black and white at The Bank of England.
Mark Cornelius/Bank of England
When the European Central Bank sent markets reeling yesterday with moves designed to stimulate growth, the 24 people who made that decision could remain comfortable that their exact arguments and misgivings…
The Bank of England’s latest communication strategy has been dubbed “fuzzy guidance” - but how much should central banks reveal?
Image sourced from www.shutterstock.com
The effective death of the forward guidance strategy offered by the Bank of England came with the announcement in early February that there would be a switch to a less quantitative approach. Dubbed by…
Mark Carney, the governor of the Bank of England, wants to change the way bankers get paid in order to discourage them from taking excessive risk or behaving badly. He has suggested that a big part of…
When financial markets stood on the verge of collapse in the summer of 2008, two of the world’s most important central banks, the US Federal Reserve and the Bank of England, began considering unorthodox…
Welcome to London. Now would you mind fixing the economy?
Alastair Grant/PA Wire
Like many Canadians to achieve high office in his country over the past half-century, Mark Carney came from an ordinary, middle-class background. And like his two immediate predecessors as governor of…
The Bank of England: still the key to growth?
Yui Mok/PA
Many critics of the coalition government’s “Plan A” argue that it should deviate from deficit reduction plans to instead stimulate growth via additional infrastructure spending. Recent advocates of this…
Life’s fine above the poverty line for Mervyn King.
PA/Yui Mok
The outgoing Bank of England governor Mervyn King has presided over a huge economic crisis. His parting gift is the claim “a recovery is in sight” that the UK might achieve economic growth of even 1% this…
If there’s one thing we can say with certainty, it’s that economic forecasting is far from an exact science.
Image from www.shutterstock.com
One certainty about economic forecasts is that, almost certainly, they will prove to be incorrect. The best forecasters can hope for is not to make systematic errors – to get it right on average – and…
The LIBOR scandal has given rise to a vexing question: just who is responsible for the “freewheeling casino” of financial capitalism?
higgott
Members of the British Treasury Select Committee, US congressional investigators, state attorney generals and class actions lawyers who are investigating just who knew what and when in the sprawling investigations…
Barclays’ manipulation of the LIBOR has raised questions about the Bank of England’s lack of regulatory oversight.
AAP
The United Kingdom has had a remarkably poor track record in prosecuting serious economic fraud. In part, this can be traced to deficiencies in the toolkit available to the Serious Fraud Office, a fact…
Barclays - Britain’s largest investment bank - has been fined after it was revealed that the bank had manipulated the London Interbank Offered Rate to boost its trade of credit derivatives and bolster its financial reputation.
AAP
The sense of frustration and despair within the British government and regulatory agencies over the behaviour of Barclays in submitting patently false returns to the London Interbank Offered Rate (LIBOR…