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☆ Bank of England leaves policy unchanged, says interest rates are 'under review'
▼ + stars: | 2024-02-01 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

LONDON — The Bank of England held interest rates steady at 5.25% on Thursday. The Monetary Policy Committee voted 6-3 in favor of holding rates. "The MPC remains prepared to adjust monetary policy as warranted by economic data to return inflation to the 2% target sustainably," the Bank said in statement. Much of the market focus of late has been on when the central bank will start cutting interest rates from their current 15-year high. However, it has remained on a general downward trajectory, while the Bank's key indicators of the labor market, wage growth and services inflation have all shown signs of easing.

Persons: BOE Organizations: Bank of England, City of, LONDON, Monetary, Bank Locations: City, City of London

☆ Bank of England chief hints the market could be getting it right on rate cuts
▼ + stars: | 2024-02-01 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +1 min

LONDON — Bank of England Governor Andrew Bailey on Thursday signaled that financial markets may be correct in their expectations for the future path of rate cuts. Speaking to CNBC, Bailey said he was "not going to commit" to a specific timeline for rate cuts, but added that he did not object to the market consensus. "I'm not going to give a view on how many cuts there'll be and when they will be. But I think that view that the market is taking is not one I object to," he told CNBC's Steve Sedgwick. Investors priced in four rate cuts by the end of this year after the central bank voted to hold interest rates steady at 5.25% earlier Thursday.

Persons: Andrew Bailey, BOE, Bailey, I'm, CNBC's Steve Sedgwick Organizations: Bank of England, City of, LONDON — Bank of England, CNBC, Monetary Locations: City, City of London

☆ Painting by Denmark’s Queen Margrethe II to go up for auction
▼ + stars: | 2024-01-31 | by ( Jack Guy | ) edition.cnn.com time to read: +3 min

CNN —A painting by Denmark’s former monarch, Queen Margrethe II, is going up for auction. “You now have the opportunity to acquire a very special – and not least royal – work of art,” said the auction house, which has set an estimate of 75,000–100,000 Danish kroner ($11,000-$15,000). The painting dates from 1988, the year that Margrethe started to exhibit her art officially. Queen Margrethe at an exhibition of her work in January 2012 Keld Navntoft/Scanpix Denmark/AFP/Getty Images“The queen found her inspiration for the painting up for auction in the natural world, expressing it in a lyrical idiom. “We are very much looking forward to offering this work by H.M. Queen Margrethe II, which testifies to her immense passion for and prolificacy within art and creative work,” he added.

Persons: Denmark’s, Queen Margrethe II, Bruun Rasmussen, “, ”, Margrethe, Hans Sølvhøj, Queen Margrethe, Keld, ” Niels Boe, H.M, Boe, Hauggaard, “ Queen Margrethe, Frederik, King Frederik X Organizations: CNN, Getty, Contemporary, CNN’s Royal Locations: Scanpix Denmark, AFP, Denmark, Copenhagen

☆ HSBC fined $73 million for 'serious failings' in UK deposit protection
▼ + stars: | 2024-01-30 | by ( ) www.cnbc.com time to read: +1 min

HSBC has been fined 57.4 million pounds ($73 million) for "serious failings" in protecting some depositors over several years, in the first penalty of its kind under British rules designed to protect customers if banks fail. This is the second largest fine ever imposed by the PRA, topped only by an 87 million pound penalty on Credit Suisse in July 2023. "The serious failings in this case go to the heart of the PRA's safety and soundness objective," said Sam Woods, deputy governor of the Bank of England and CEO of the PRA. Globally systemically important banks -- such as HSBC and UBS -- are required to plan for resolution, which should allow regulators to unwind them without triggering broader systemic consequences. Britain's deposit protection rules require lenders to ensure critical information is held in order for the FSCS to compensate customers if a firm fails.

Persons: Sam Woods, BoE Organizations: HSBC, of England's Prudential, Authority, Britain's Financial, Credit Suisse, Bank of England, UBS

☆ European stocks set to slip after notching two-year high; Fed and BoE meetings ahead
▼ + stars: | 2024-01-29 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

European stock markets are heading for a lower start to the week as investors prepare for a slew of earnings, data and central bank announcements. The regional Stoxx 600 climbed 3.1% last week, closing at its highest level since January 2022, according to LSEG data. Gains came amid some positive fourth-quarter company results, and as the market ramped up bets that the European Central Bank will begin cutting interest rates in April. It is a big week for earnings, with Big Tech's Microsoft, Apple, Meta, Amazon and Alphabet all set to report. In Asia-Pacific, markets traded mixed with all attention on Hong Kong's High Court ordering the liquidation of Chinese property developer Evergrande.

Organizations: European Central Bank, ECB, U.S . Federal, Bank of England, Big, Microsoft, Apple, Philips, Ryanair, Hong Locations: Europe, Asia, Pacific, Hong Kong's

☆ A Famed Analyst’s Final Forecast Is the Fall of the U.S. Economy
▼ + stars: | 2024-01-27 | by ( Rob Copeland | ) www.nytimes.com time to read: +1 min

Over his 54 years as a financial analyst, Richard X. Bove perfected the art of grabbing attention. Through thousands of newspaper interviews, cable news appearances and radio segments, Mr. Bove turned what can be a dull, by-the-numbers career into a more showy one. In an interview with The New York Times, Mr. Bove (pronounced “boe-VAY”), who goes by Dick, shared a dire outlook on the U.S. economy and his former profession. Many analysts are rewarded for coming up with unique but inconsequential and “arcane” ideas, he said, peppering his criticism with profanities. Mr. Bove worked at 17 brokerage firms during his career.

Persons: Richard X, Bove, ”, “ boe, VAY, Dick, Mr Organizations: Banker, Bloomberg, The New York Times Locations: U.S, Tampa, China

☆ UK inches closer to technical recession as growth is revised down
▼ + stars: | 2023-12-22 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +2 min

Data due out in February will show whether the U.K. has entered a technical recession — defined as when the economy shrinks for two consecutive quarters. There was also zero growth in the prior three months, the new figures showed, down from the 0.2% growth previously calculated. LONDON — The U.K. is edging closer to recession after revised figures showed the economy shrank in the previous quarter. Certainly, Rishi Sunak's pledge to grow the economy is now severely in doubt," he said. A near-term drop in interest rates would be a win for Sunak's government, as the U.K. enters an election year.

Persons: Jeremy Hunt, Richard Carter, Cheviot, Rishi Sunak's, Rishi Sunak, Downing, Andrew Bailey Organizations: Office, National Statistics, LONDON, Bank of England

☆ Bank of England set to hold interest rates as economists debate 2024 cuts
▼ + stars: | 2023-12-13 | by ( Elliot Smith | ) www.cnbc.com time to read: +3 min

A passageway near the Bank of England (BOE) in the City of London, U.K., on Thursday, March 18, 2021. The market is pricing an almost 100% chance of a hold on Thursday, according to LSEG, with economic data since the Bank's last meeting proving largely inconclusive. The latest labor market data on Tuesday indicated a continuation of recent trends, with unemployment remaining broadly flat and vacancies continuing to decline at pace. Average pay including bonuses fell by 1.6% between September and October, versus an average monthly growth rate of 1.1% in the first half of the year. "An unchanged forward guidance will also serve the MPC well to push against the current market pricing of Bank Rate which assigns an increasing probability to cuts in H1 2024," they said.

Persons: BOE, Hollie Adams, Jake Finney, Finney, Abbas Khan, Jack Organizations: Bank of England, City of, Bloomberg, Getty, Monetary, Federal Reserve, Reuters, Bank, Barclays, MPC Locations: City, City of London

☆ Central bank blunders undermine tough rate talk
▼ + stars: | 2023-12-05 | by ( Francesco Guerrera | ) www.reuters.com time to read: +8 min

Comments by central bankers underline their desire to keep interest rates high until price growth quiesces. Policymakers’ recent mistakes mean they will struggle to convince investors their tough talk is real. U.S. Federal Reserve Chair Jay Powell says his fellow policymakers are “not thinking about rate cuts at all”. In May, after another U.S. regional bank failure, markets concluded that the Fed’s rate hike at the beginning of that month would be its last. Respected central bankers might be able to convince markets that these numbers don’t portend imminent rate cuts.

Persons: Jay Powell, Christine Lagarde, Andrew Bailey, Powell, backtrack, –, Lagarde, Treasuries, BoE, Bailey, Ben Bernanke, Jacob Frenkel, Peter Thal Larsen, Oliver Taslic, Thomas Shum Organizations: Reuters, Traders, U.S . Federal, European Central Bank, Bank of England, titans, Deutsche Bank, Treasury, Reuters Graphics Reuters, LSEG, Silicon Valley Bank, Fed, ECB, Bank of Israel, Federal Reserve, European, Thomson Locations: Silicon, Bailey, United States, Ukraine, Central

☆ 'We should not wait a decade to have transition plans,' former BOE governor says on climate change
▼ + stars: | 2023-12-04 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'We should not wait a decade to have transition plans,' former BOE governor says on climate changeMark Carney, U.N. special envoy for climate action and former Bank of England governor, tells CNBC's Dan Murphy about energy transition plans at COP28.

Persons: BOE, Mark Carney, U.N, CNBC's Dan Murphy Organizations: Bank of England Locations: COP28

☆ Britain yet to make the case for a digital pound, lawmakers say
▼ + stars: | 2023-12-02 | by ( Huw Jones | ) www.reuters.com time to read: +2 min

People and businesses could use a digital pound to make payments, with the BoE suggesting a limit of up to 20,000 pounds for digital wallets provided by banks, far higher than the 3,000 euros discussed by the European Central Bank for a digital euro. The committee's "The digital pound: still a solution in search of a problem?" The prospect of a digital pound, now in the design phase, has raised concerns that it would allow the authorities to spy on what people spend on, and that it could spell the end of cash. "We recommend that any primary legislation used to introduce a digital pound does not allow the Government or Bank of England to use the data from a digital pound for any purposes beyond those already permitted for law enforcement," the report said. The BoE has said interest should not be payable on digital pound deposits, but the committee said this position should be reviewed.

Persons: Susannah Ireland, BoE, Harriett Baldwin, Huw Jones, Alison Williams Organizations: of, Bank of England, REUTERS, Treasury, European Central Bank, Government, Thomson Locations: of England, London, Britain

☆ Central banks of India, England resolve trade settlement stand-off
▼ + stars: | 2023-12-01 | by ( ) www.reuters.com time to read: +1 min

[1/2] FILE PHOTO: A Reserve Bank of India (RBI) logo is seen inside its headquarters in Mumbai, India, April 6, 2023. REUTERS/Francis Mascarenhas//o/File Photo Acquire Licensing RightsMUMBAI, Dec 1 (Reuters) - The central banks of India and England on Friday signed an agreement on information exchange for settlement of bond trades, the Reserve Bank of India (RBI) said. In India, bonds are settled through the Clearing Corporation of India (CCIL). The two central banks have also established a framework for the BoE to rely on the Indian central bank's regulatory and supervisory activities, while safeguarding the United Kingdom's financial stability, the RBI said. This meant that European banks had to settle their India-based trades through banks based in other jurisdictions.

Persons: Francis Mascarenhas, BoE, CCIL, Siddhi Nayak, Jayshree, Nivedita Bhattacharjee, Sohini Organizations: Bank of India, REUTERS, Rights, Reserve Bank of India, Clearing Corporation of India, Bank of England, United, European Securities and Markets Authority, Siddhi, Thomson Locations: Mumbai, India, England

☆ Bank of England drags Bagehot into the shadows
▼ + stars: | 2023-12-01 | by ( Liam Proud | ) www.reuters.com time to read: +8 min

That is no longer tenable, in part because of reforms to bank regulation that shifted activity from traditional lenders to financial market players. These days, the institutions in need of urgent liquidity are just as likely to be pension funds, insurers or hedge funds. The British central bank’s initial ideas make sense, but only solve part of the problem. The central bank can short-circuit the panic by opening the credit taps. Central banks are only just starting to grapple with what it means to be a lender of last resort in that context.

Persons: Walter Bagehot’s, Andrew Hauser, BoE, WALTER, Gurney, Peter Thal Larsen, Streisand Neto, Thomas Shum Organizations: Reuters, Bank of England, Reuters Graphics Reuters, U.S, Treasury, Federal Reserve, Pensions, . Treasury, Citadel, Millennium Management, City of, U.S . Federal, Gurney & Company, Victorian, Thomson Locations: British, City, City of London, Basel, Overend, Lombard

☆ Morning Bid: Treasuries on cusp of best month since 2008
▼ + stars: | 2023-11-30 | by ( ) www.reuters.com time to read: +3 min

Let's start with Treasuries because, if this were sports, we'd be calling it a comeback for the ages. Now, with some encouraging hints from Fed officials, 10-year notes are poised to celebrate their best month since the 2008 global crash, with yields down 61 basis points for November so far. Yields on two-year paper are down 31 bps just this week, the steepest drop since the U.S. mini-banking crisis in March. The European Union has inflation data of its own later on Thursday and analysts suspect the risks are for a downside surprise following subdued readings from Germany and Spain. The dollar index looks set for its worst month since November last year, with a loss so far of 3.7%.

Persons: Kevin Lamarque, Wayne Cole, Let's, we'd, Governor Waller, dovishness, Powell, Williams, Lagarde, Greene, Governor Bunge, Edmund Klamann Organizations: U.S . Treasury, REUTERS, Fed New, European Union, China PMI, BoE Monetary, CPI, PPI, Chicago PMI, Thomson Locations: Washington , U.S, Wayne, U.S, Germany, Spain, China, BoE, EU, Chicago

☆ Morning Bid: Waller to Wall St, Fed's on the turn
▼ + stars: | 2023-11-29 | by ( ) www.reuters.com time to read: +6 min

A street sign for Wall Street is seen in the financial district in New York, U.S., November 8, 2021. But back in the markets, the Fed's policy pivot was all the rage as Treasury yields and dollar plunged anew. New York Fed chief John Williams said long-term inflation expectations were anchored, reassuring and "remarkably stable". Fed futures now have the first Fed rate cut of a quarter point fully priced for May and 110bps of rate cuts by year-end. Two-year Treasury yields plunged more than 15 basis points to four-month lows of 4.66% on Wednesday, with 10-year yields hitting their lowest since mid-September - a startling drop of more than 75bps in little over a month.

Persons: Brendan McDermid, Mike Dolan, Wall, Charlie Munger, Berkshire Hathaway's Munger, Warren Buffett, Christopher Waller, Jerome Powell, Waller, John Williams, Austan Goolsbee, Michelle Bowman, Powell, Stocks, smartly, Hong, Thomas Barkin, Loretta Mester, Andrew Bailey, BoE, Andrew Hauser, Blinken, Sergey Lavrov, Jane Merriman Organizations: Wall, REUTERS, Federal Reserve, Waller . New York Fed, Chicago Fed, HK, Austria's, Holdings, Richmond Fed, Cleveland Fed, Bank of England, London, Russian, Foods, Intuit, Petco, Thomson, Reuters Locations: New York, U.S, Berkshire, Waller ., China, Europe, Vienna, North Macedonia

☆ UK's FTSE 100 lags regional peers as banks, insurers fall
▼ + stars: | 2023-11-29 | by ( Shashwat Chauhan | ) www.reuters.com time to read: +3 min

The blue-chip FTSE 100 (.FTSE) index dipped 0.1%, while the pan-European STOXX 600 (.STOXX) rose 0.5%. The life insurance sector (.FTNMX303010) fell 0.4%, with Prudential (PRU.L) slipping 0.7% after Deutsche Bank reduced its price target on the stock. Banks (.FTNMX301010) slipped 1.7% following a 2.3% fall in HSBC (HSBA.L), which was the biggest weight on the FTSE 100. Among individual stocks Halfords Group (HFD.L) plunged 21.1% after the bicycles-to-car parts retailer narrowed its annual profit forecast range. Reporting by Shashwat Chauhan in Bengaluru; Editing by Dhanya Ann Thoppil and Eileen SorengOur Standards: The Thomson Reuters Trust Principles.

Persons: Toby Melville, Andrew Bailey, BoE Governor Andrew Bailey, Eddie Cheng, Banks, Shashwat Chauhan, Dhanya Ann Thoppil, Eileen Soreng Organizations: London Stock Exchange Group, REUTERS, Aviva, Bank of England, Prudential, Deutsche Bank, U.S . Federal Reserve, Allspring Global Investments, HSBC, Halfords, Thomson Locations: City, London, Britain, Europe, United States, Bengaluru

☆ How Dmitry Balyasny's $21 billion hedge fund is looking to get ahead in the war for investment talent
▼ + stars: | 2023-11-28 | by ( Michelle Abrego | ) www.businessinsider.com time to read: +6 min

One firm he was considering stood out to him: Dmitry Balyasny's namesake hedge fund and its program for up-and-coming portfolio managers, Anthem. Hedge funds are finding that to win the talent wars, it's not enough to have deep pockets to attract portfolio managers. He said that in the past year, $21 billion Balyasny had hired 40 portfolio managers. Its global equities head left in October, as did several other portfolio managers . They operate within a risk framework that is tighter than that imposed on veteran portfolio managers at the firm.

Persons: Sebastiaan De Boe, Dmitry Balyasny's, De Boe, Balyasny, It's, quants, Bridger, it's, they're, Bill Wappler, Wappler, Steve Cohen's Point72, They're, who've, who's, Seb Organizations: Citadel, Business, BAM, Kids Investors Conference, Millennium Management, Equity, Balyasny Asset Management, Balyasny, London Business School Locations: Toronto, Chicago, multistrategy, quant, Europe, London

☆ Morning Bid: Treasuries gobbled up, oil braces for OPEC
▼ + stars: | 2023-11-28 | by ( ) www.reuters.com time to read: +5 min

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., November 17, 2023. Benchmark Treasury yields fell back more than 10 basis points to 4.37% after a total of $109 billion of 2 and 5-year notes hit the Street on Monday without much disruption. Another weak U.S. housing readout, with sub-forecast new home sales last month, perhaps flattered the post-auction moves. That's likely a mixed blessing for Federal Reserve watchers - the continued buoyancy of consumption but with increasing price discrimination. Fed futures priced about 85bps of rate cuts through next year, starting in June, though many major banks expect even more.

Persons: Brendan McDermid, Mike Dolan, That's, Hong, Louis, Christopher Waller, Michelle Bowman, Michael Barr, Austan Goolsbee, Christine Lagarde, Philip Lane, Dave Ramsden, BoE, Jonathan Haskel, Hewlett Packard, Ed Osmond Organizations: New York Stock Exchange, REUTERS, Treasuries, Treasury, Adobe Digital, Federal Reserve, Louis Fed, U.S . Treasury, Richmond Fed, Dallas Fed, . Treasury, Chicago Fed, European Central Bank, ECB, Bank of England, Citi Trends, Fluence Energy, Reuters, Reuters Graphics Reuters, Thomson Locations: New York City, U.S, Asia, Europe, United States, China, New York, St, Uxin, Canaan, Elbit

☆ London stocks fall as investors await more data; Rolls-Royce shines
▼ + stars: | 2023-11-28 | by ( Shashwat Chauhan | ) www.reuters.com time to read: +2 min

A street cleaning operative walks past the London Stock Exchange Group building in the City of London financial district, whilst British stocks tumble as investors fear that the coronavirus outbreak could stall the global economy, in London, Britain, March 9, 2020. The exporter-heavy FTSE 100 (.FTSE) fell 0.6% touching a two-week low intraday, while the more domestically-oriented FTSE 250 midcap index (.FTMC) also shed 0.6%. Personal goods (.FTNMX402040) led declines among the major FTSE 350 sectors, with Burberry Group (BRBY.L) falling 2.7% after HSBC reduced the stock's price target. Investors will look ahead to UK mortgage data, inflation prints across the eurozone, and a Personal Consumption Expenditures (PCE) report in the U.S. - the Federal Reserve's preferred inflation gauge - later this week. Man Group (EMG.L) fell 3.2% after Morgan Stanley downgraded the hedge fund manager's stock to "Equal-Weight" from "Overweight".

Persons: Toby Melville, inflation's, Andrew Jones, Janus Henderson, Dave Ramsden, Jonathan Haskel, Pearson, Morgan Stanley, Shashwat Chauhan, Sonia Cheema Organizations: London Stock Exchange Group, REUTERS, Royce, Burberry Group, HSBC, PT Pearson, Man, Janus Henderson Investors, Bank of England's, Thomson Locations: City, London, Britain, U.S, Bengaluru

☆ BoE leads central bank chorus on need for restrictive policy
▼ + stars: | 2023-11-28 | by ( ) www.reuters.com time to read: +2 min

Deputy Governor for Markets and Banking of the Bank of England Dave Ramsden attends a press conference concerning interest rates, at the Bank of England, in London, Britain, November 2, 2023. Speaking at a central bank conference in Hong Kong, Bank of England (BoE) Deputy Governor Dave Ramsden also said he saw no financial stability grounds to lower interest rates, which are currently up at 5.25%. “We think that monetary policy is likely to need to be restrictive for an extended period of time," he said. Even with all that tightening, Ramsden said inflation was not expected to return to 2% until the end of 2025. Markets have started to position for the first rate cut, with a move seen as soon as April or June.

Persons: Bank of England Dave Ramsden, HENRY NICHOLLS, BoE, Dave Ramsden, Ramsden, Michele Bullock, Bullock, Pablo Hernández de Cos, Cos, Wayne Cole, Selena Li, Xie Yu, Jamie Freed, Simon Cameron, Moore Organizations: Markets, Banking, Bank of England, Reserve Bank of Australia, Bank of Spain, European Central Bank, ECB, Thomson Locations: London, Britain, HONG KONG, Australia, Spain, Hong Kong

☆ China's BOE Technology to set up AMOLED production line worth $8.8 bln
▼ + stars: | 2023-11-28 | by ( ) www.reuters.com time to read: 1 min

BEIJING, Nov 28 (Reuters) - BOE Technology Group Co Ltd (000725.SZ) said on Tuesday that it and partners plan to invest 63 billion yuan ($8.81 billion) to set up AMOLED production line in the southwestern Chinese city of Chengdu. The project's products will mainly be high-end touch screens such as those on laptops and tablets, BOE said in a filing to the Shenzhen stock exchange. ($1 = 7.1527 Chinese yuan renminbi)Reporting by Beijing Newsroom; Editing by Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

Persons: BOE, Louise Heavens Organizations: BOE Technology Group Co, Beijing, Thomson Locations: BEIJING, Chengdu, Shenzhen

☆ BoE's Bailey says getting inflation to 2% will be 'hard work'
▼ + stars: | 2023-11-27 | by ( ) www.reuters.com time to read: +2 min

Governor of the Bank of England Andrew Bailey addresses the media during a press conference concerning interest rates, at the Bank of England, in London, Britain, November 2, 2023. "The rest of it has to be done by policy and monetary policy," Bailey said in an interview with website ChronicleLive published on Monday. The second half, from there to two, is hard work and obviously we don't want to see any more damage." Bailey acknowledged the impact of higher interest rates on households caused by higher mortgages and rents. But he repeated his message that it was too soon for the BoE to think about cutting interest rates.

Persons: Bank of England Andrew Bailey, HENRY NICHOLLS, Andrew Bailey, Bailey, ChronicleLive, BoE, it's, William Schomberg, Sarah Young Organizations: Bank of England, Thomson Locations: London, Britain

☆ Australia appoints BoE's Andrew Hauser as new RBA deputy governor
▼ + stars: | 2023-11-27 | by ( ) www.reuters.com time to read: +1 min

[1/4] Andrew Hauser, who has been appointed the next Deputy Governor of the Reserve Bank of Australia, is seen in this undated handout photo distributed on November 27, 2023. Australian Government/Handout via REUTERS Acquire Licensing RightsSYDNEY, Nov 27 (Reuters) - Australia on Monday appointed the Bank of England's (BoE) Andrew Hauser as the new deputy governor of the Reserve Bank of Australia (RBA), filling a position that had been vacant since Michele Bullock was elevated to the top role in late September. Hauser, who currently serves as the executive director at markets at the BoE, is expected to start before the first RBA board meeting next year. Governor Bullock welcomed the appointment. "I warmly congratulate Andrew on his appointment...He has great experience and will bring a welcome external perspective to the Bank and the Reserve Bank Board."

Persons: Andrew Hauser, BoE, Michele Bullock, Hauser, Governor Bullock, Andrew, Lewis Jackson, Stella Qiu, Kim Coghill, Sam Holmes Organizations: Reserve Bank of Australia, Australian Government, REUTERS Acquire, Rights, Monday, Bank of England's, London School of Economics, Bank, Reserve Bank Board, Thomson Locations: Australia

☆ Australia appoints Bank of England's Andrew Hauser as new Reserve Bank of Australia deputy head
▼ + stars: | 2023-11-27 | by ( ) www.cnbc.com time to read: +1 min

Andrew Hauser, executive director of markets at the Bank of England, has been appointed the new deputy governor of the Reserve Bank of Australia. Australia on Monday appointed the Bank of England's, or BoE, Andrew Hauser as the new deputy governor of the Reserve Bank of Australia, or RBA, filling a position that had been vacant since Michele Bullock was elevated to the top role two months ago. Hauser, the executive director of markets at the BoE, is expected to start his five-year term before the first RBA board meeting next year. "I am humbled and deeply honored to be asked to serve as the RBA's next Deputy Governor," said Hauser, who is British and has 30 years of experience at the BoE. Hauser has a master's degree in economics from the London School of Economics and a degree from Oxford University.

Persons: Andrew Hauser, BoE, Michele Bullock, Hauser Organizations: Bank of England, Reserve Bank of Australia, Monday, Bank of England's, British, London School of Economics, Oxford University Locations: Australia

☆ Bank of England should look more at money supply, lawmakers say
▼ + stars: | 2023-11-27 | by ( David Milliken | ) www.reuters.com time to read: +3 min

A bus passes the Bank of England in the City of London, Britain, February 14, 2017. "Climate change is the most-cited example of the expansion of the remit," committee chair George Bridges, a Conservative former Brexit minister, told Reuters. The House of Lords committee set up the inquiry in March, following a surge in inflation to a 41-year high last year. The central bank is midway through its own forecasting review led by former U.S. Federal Reserve Chair Ben Bernanke. The House of Lords committee said parliament should have more opportunity to debate these changes, and should conduct in-depth reviews of the BoE's work every five years.

Persons: Hannah McKay, BoE, Mervyn King, George Bridges, Ben Bernanke, Jeremy Hunt, Bridges, David Milliken, William Schomberg Organizations: Bank of England, City of, REUTERS, Economic Affairs Committee, Conservative, Reuters, U.S . Federal, Thomson Locations: City, City of London, Britain, Ukraine

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