UK Economics Correspondent, London
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Mar 19, 2014

Shake-up at Bank of England with three new top policy appointments

LONDON (Reuters) – Britain shook up the Bank of England on Tuesday, breaking the all-male grip at the top as it appointed two new deputy governors and a chief economist who has been highly critical of the banking industry.

The biggest single change in senior staff since the BoE gained independence in 1997 is accompanied by changes lower down which Bank of England Governor Mark Carney said were essential to wean the bank from its previous almost-exclusive focus on targeting inflation.

Mar 18, 2014

Carney revamps Bank of England, says will avoid past ‘flaws’

LONDON (Reuters) – Bank of England Governor Mark Carney announced an overhaul of the central bank on Tuesday, saying the almost exclusive focus by central banks on inflation in the past was “fatally flawed”.

Carney also said that scandals in the Libor interest rate and more recently foreign exchange markets showed the need for changes to make markets fairer and more efficient.

Mar 18, 2014

UK shakes up Bank of England with three new top policy appointments

LONDON (Reuters) – Britain shook up the Bank of England on Tuesday, breaking the all-male grip at the top as it appointed two new deputy governors and a chief economist who has been highly critical of the banking industry.

The biggest single change in senior staff since the BoE gained independence in 1997 sees International Monetary Fund official Nemat Shafik become its new deputy governor for markets and banking – the first woman in a top policy role since 2010.

Mar 18, 2014

Shake-up at Bank of England

LONDON (Reuters) – Britain shook up the upper echelons of the Bank of England on Tuesday, naming two new deputy governors as the revamp of the central bank under its new boss Mark Carney gathered pace.

The government and the BoE announced the appointments of Monetary Policy Committee member Ben Broadbent and International Monetary Fund official Nemat Shafik, who will be the first female MPC member since 2010.

Mar 18, 2014

UK shakes up Bank of England with two new deputy governors

LONDON, March 18 (Reuters) – Britain shook up the upper
echelons of the Bank of England on Tuesday, naming two new
deputy governors as the revamp of the central bank under its new
boss Mark Carney gathered pace.

The government and the BoE announced the appointments of
Monetary Policy Committee member Ben Broadbent and International
Monetary Fund official Nemat Shafik, who will be the first
female MPC member since 2010.

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.

    • 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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