UK Economics Correspondent, London
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Mar 17, 2014

UK expected to name next BoE deputy governor on Tuesday: source

LONDON (Reuters) – Britain’s finance ministry is set to name a new Bank of England deputy governor for monetary policy to replace Charlie Bean on Tuesday, a source familiar with the appointments process said.

BoE Governor Mark Carney is due to give a speech at 1805 GMT on Tuesday announcing wide-ranging changes to the Bank’s organization, including details of a separate new post of deputy governor responsible for markets and banking.

Mar 17, 2014

Analysis – Bank of England shake-up may trigger rate-setter changes

LONDON (Reuters) – Governor Mark Carney’s first big shake-up of the Bank of England could set off changes on its interest rate-setting committee, with markets chief Paul Fisher at risk of losing out.

Carney, who took over last year, had already been planning changes to the upper echelons when the central bank was drawn into a scandal over alleged manipulation of currency markets.

Mar 17, 2014

Bank of England shake-up may trigger rate-setter changes

LONDON (Reuters) – Governor Mark Carney’s first big shake-up of the Bank of England could set off changes on its interest rate-setting committee, with markets chief Paul Fisher at risk of losing out.

Carney, who took over last year, had already been planning changes to the upper echelons when the central bank was drawn into a scandal over alleged manipulation of currency markets.

Mar 12, 2014

Bank of England signs up supplier for plastic bank notes

LONDON (Reuters) – Britain’s plan to become the biggest economy to use plastic bank notes took a step forward on Wednesday when the Bank of England said it had signed a contract for a supplier of material for the new notes.

The BoE entered into an agreement with Innovia Security, whose polymers are already used for bank notes by more than 20 countries. It will provide the material for new five- and 10- pound plastic bank notes to be created in Britain.

Mar 11, 2014

Bank of England announces shake-up as it probes FX case

LONDON (Reuters) – The Bank of England will overhaul the way it works with banks and financial markets as it faces criticism of its response to signs of possible manipulation of foreign exchanges rates.

BoE Governor Mark Carney faced more than four-and-a-half hours of questioning by lawmakers on Tuesday, a large part of which was devoted to the bank’s response to allegations that key currency benchmarks had been rigged.

Mar 11, 2014

RBS might have to leave an independent Scotland-BoE’s Carney

LONDON, March 11 (Reuters) – The Royal Bank of Scotland
and other Scottish-based financial firms might have to
move their headquarters to England if Scotland becomes
independent and joins the European Union, Bank of England
Governor Mark Carney said on Tuesday.

Carney said if Scotland chose to break away from the rest of
the United Kingdom at a Sept. 18 referendum, EU law stipulated
it would need to guarantee deposits in England and Scotland
where many have their largest customer bases.

Mar 11, 2014

BoE’s Carney says UK economy not close to overheating

LONDON, March 11 (Reuters) – Bank of England Governor Mark
Carney signalled he was not concerned that Britain’s economy was
close to overheating, despite a strong recovery since last year,
putting himself in the dovish camp among policymakers.

Speaking to lawmakers on Tuesday, Carney said the amount of
spare capacity in the economy was probably slightly more than
1.5 percent of gross domestic product, suggesting the BoE can
hold off on raising interest rates for longer.

Feb 28, 2014

UK public debt to rise by over 100 billion pounds due to data changes

LONDON (Reuters) – The official measure of Britain’s trillion-pound government debt will rise by more than 100 billion pounds in September, as part of a major revamp of the politically sensitive numbers by the country’s statistics agency.

Some of the changes are due to new European Union statistical rules, which mean the not-for-profit body which operates Britain’s rail network will be classified as a public rather than a private corporation.

Feb 28, 2014

UK public debt to rise by over £100 billion due to data changes

LONDON (Reuters) – The official measure of Britain’s trillion-pound government debt will rise by more than 100 billion pounds in September, as part of a major revamp of the politically sensitive numbers by the country’s statistics agency.

Some of the changes are due to new European Union statistical rules, which mean the not-for-profit body which operates Britain’s rail network will be classified as a public rather than a private corporation.

Feb 28, 2014

UK public debt to rise by over 100 bln stg due to data changes

LONDON, Feb 28 (Reuters) – The official measure of Britain’s
trillion-pound government debt will rise by more than 100
billion pounds ($167 billion) in September, as part of a major
revamp of the politically sensitive numbers by the country’s
statistics agency.

Some of the changes are due to new European Union
statistical rules, which mean the not-for-profit body which
operates Britain’s rail network will be classified as a public
rather than a private corporation.

    • About David

      "David keeps a close watch on the UK economy, the Bank of England and the British government debt market. Previously he worked in Frankfurt, covering the European Central Bank and euro zone economy, and in Brussels where he reported on everything from EU summits to Belgian supermarkets."
      Languages:
      English, French, German
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