"Rational Expectations Hypothesis as promulgated by Walters The handing over of monetary policy to the Bank had been a key plank of the Liberal Democrats' economic policy since the 1992 general election. Conservative MP Nicholas Budgen had also proposed this as a private member's bill in 1996, but the bill failed as it had the support of neither the government nor the opposition. Mark Carney assumed the post of Governor of the Bank of England on 1 July 2013. He succeeded Mervyn King, who took over on 30 June 2003. Carney, a Canadian, will serve an initial five-year term rather"
"the Bilderberg Group in 2011 and 2012. On November 26, 2012, Chancellor of the Exchequer George Osborne announced the appointment of Carney as Governor of the Bank of England. He succeeded Sir Mervyn King on July 1, 2013. He is the first non-Briton to be appointed to the role since the Bank was established in 1694. The Bank of England was given additional powers from 2013, such as the ability to set bank capital requirements. Prior to taking up the post, Carney had already indicated disagreement with the Bank of England's Executive Director of Financial Stability Andy Haldane, specifically on"
"Mervyn King, Baron King of Lothbury Mervyn Allister King, Baron King of Lothbury, (born 30 March 1948) is a British economist and public servant who served as the Governor of the Bank of England from 2003 to 2013. Born in Chesham Bois, Buckinghamshire, King attended Wolverhampton Grammar School and studied economics at King's College, Cambridge, St John's College, Cambridge, and Harvard University. He then worked as a researcher on the Cambridge Growth Project, taught at the University of Birmingham, Harvard and MIT, and became a Professor of Economics at the London School of Economics. He joined the Bank of England"
"same county, The Viscount De L'Isle. King's books include: Mervyn King, Baron King of Lothbury Mervyn Allister King, Baron King of Lothbury, (born 30 March 1948) is a British economist and public servant who served as the Governor of the Bank of England from 2003 to 2013. Born in Chesham Bois, Buckinghamshire, King attended Wolverhampton Grammar School and studied economics at King's College, Cambridge, St John's College, Cambridge, and Harvard University. He then worked as a researcher on the Cambridge Growth Project, taught at the University of Birmingham, Harvard and MIT, and became a Professor of Economics at the London"
"Governor for Financial Stability for the rest of his term, and Mervyn King became the first Deputy Governor for Monetary Policy. In June 2013, the position of Chief Operating Officer (COO) of the Bank of England was created. The COO has responsibility for the day-to-day operations of the Bank. They have the same status and remuneration as a Deputy Governor. Deputy Governor of the Bank of England A Deputy Governor of the Bank of England is the holder of one of a small number of senior positions at the Bank of England, reporting directly to the Governor. According to the"
"audiences throughout the country, with the same aim. Their views and expectations for inflation are also republished in the Bank's quarterly inflation report. As of August 2017, the current Committee comprises (by status): Other, former members of the Committee (by date of appointment) are: The dates listed show when their current terms of appointment are due to, or did, end. As of January 2008, Mervyn King, the Bank of England's then Governor, was the only MPC member to have taken part in every meeting since 1997. As a result, after the MPC meeting in July 2013, the first after King"
"Mark Carney Mark Joseph Carney (born March 16, 1965) is an economist and central banker. He holds Canadian, British and Irish citizenship and has been Governor of the Bank of England since 2013 and was Chairman of the Financial Stability Board from 2011 to 2018. Carney began his career at Goldman Sachs before joining the Canadian Department of Finance. He later served as Governor of the Bank of Canada from 2008 until 2013, when he moved to his current post. His term is due to expire in January 2020. Carney was born on March 16, 1965, in Fort Smith, Northwest"
"Mark Carney Mark Joseph Carney (born March 16, 1965) is an economist and central banker. He holds Canadian, British and Irish citizenship and has been Governor of the Bank of England since 2013 and was Chairman of the Financial Stability Board from 2011 to 2018. Carney began his career at Goldman Sachs before joining the Canadian Department of Finance. He later served as Governor of the Bank of Canada from 2008 until 2013, when he moved to his current post. His term is due to expire in January 2020. Carney was born on March 16, 1965, in Fort Smith, Northwest"
"of the Bank of England. In that role, she was responsible for the day-to-day management of the bank, including human resources, finance, property, IT, and security, as part of Carney's efforts to streamline the institution. However, she had no policy making decisions as that falls to the Governor and Deputy Governor. As COO, she had the same status and received the same remuneration as a Deputy Governor. On 9 January 2017, it was announced that she had been appointed Deputy Governor (markets and banking) in succession to Minouche Shafik, while retaining her title as COO, making her a potential successor"
"1981 Budget. King joined the bank in March 1991 as chief economist and executive director, after being a non-executive director from 1990 to 1991. He was appointed Deputy Governor in 1997, taking up his post on 1 June 1998. In the same year, King became a member of the Group of Thirty. An ex-officio member of the bank's interest-rate setting Monetary Policy Committee since its inception in 1997, King took part in its monthly meetings. He succeeded Sir Edward George as governor on 1 July 2003, and was also the first incumbent governor of the Bank of England to be"
"coming to power the Bank was given independence in setting UK interest rates by Gordon Brown, the incoming Chancellor of the Exchequer. He was succeeded as Governor of the Bank of England in July 2003 by Mervyn King. George attracted controversy in 1998 when he was widely reported to have made a statement to London newspaper executives implying that unemployment in the north of England was a price worth paying to preserve affluence in the south of the country. He later claimed that his remarks had been misconstrued. George served as a Governor of his former school, Dulwich College, between"
"April 2013 Bailey became the Chief Executive of the new Prudential Regulation Authority and the first Deputy Governor of the Bank of England for Prudential Regulation. On 26 January 2016, it was announced that Andrew Bailey will take over as CEO of the UK Financial Conduct Authority. He replaced Tracey McDermott, who became acting CEO after Martin Wheatley resigned following a vote of no confidence by George Osborne in July 2015. Andrew Bailey (banker) Andrew John Bailey (born 30 March 1959) is a British central banker, who was Deputy Governor of the Bank of England from April 2013 to July"
"EU in January 2012. He was replaced in the role by Ivan Rogers. Cunliffe currently serves as Deputy Governor of the Bank of England for Financial Stability. He took up the role in November 2013 and is an ""ex officio"" member of the Bank's Financial and Monetary Policy Committees and its Court of Directors. He replaced Paul Tucker when the latter was passed over for promotion to Governor in favour of Mark Carney, and chose instead when the announcement was made in June 2013 to lecture at Harvard. Cunliffe is overseeing 'Project Bookend', the Bank of England's project to examine"
"Paul Tucker (banker) Sir Paul Tucker (born 24 March 1958) is a British economist and central banker. He was formerly the Deputy Governor of the Bank of England, with responsibility for financial stability, and served on the Bank's Monetary Policy Committee from June 2002 until October 2013 and its interim and then full Financial Policy Committee from June 2011. In November 2012 he was turned down for the position of governor in favour of Mark Carney. In June 2013, Tucker announced that he would leave the Bank of England, and later that he would be moving to Harvard. He was"
"four Deputy Governors (Sir Jon Cunliffe, Ben Broadbent, Sam Woods and Sir David Ramsden). They have special responsibility for financial stability, monetary policy, prudential regulation and markets and banking respectively. In 2013, the position of Chief Operating Officer (COO) was created and has the same status and remuneration as a Deputy Governor. Under Schedule 1 of the Bank of England Act 1998 (as amended), Deputy Governors are appointed for five year terms, and are term-limited to two terms. The Bank of England Act 1998, which came into force on 1 June 1998, created a second Deputy Governorship. Clementi became Deputy"
"0.03% and the third quarter figures fall by a further 0.9%. The Bank of Japan doubles its inflation target to 2% and announces open-ended asset purchases for 2014 in the hope of ending deflation. Initial GDP figures for the fourth quarter of 2012 show the UK economy shrank by 0.3% raising fears of a triple dip recession. Sir Mervyn King, Governor of the Bank of England, says he believes ""a recovery is in sight"". However, he also expects inflation to rise to at least 3% by the summer of 2013 and to remain above the Bank's 2% target for two"
"in the nine-member Monetary Policy Committee (MPC) of the Bank of England. Gertjan Vlieghe Gertjan Willem Vlieghe (born May 1971) is a British-Belgian economist. Gertjan Willem Vlieghe was born in May 1971, and received a PhD from the London School of Economics. Vlieghe was an economic assistant to Lord Mervyn King at the Bank of England. He then worked as a bond strategist and director at the Deutsche Bank. Later, he worked as a senior economist at Brevan Howard, a hedge fund based in London. On 28 July 2015, it was announced that he would replace David Miles in September"
"Governor, overseeing strategic planning and coordinating all the Bank's operations, sharing responsibility for the conduct of monetary policy as a member of the Bank's Governing Council, and participating in fulfilling the Bank's responsibilities for promoting financial stability. Jenkins was considered the front-runner to succeed David A. Dodge as Governor but instead was passed over in favour of Mark Carney. Jenkins notified the board on October 29, 2009 that he would not seek a renewal once his seven-year term expired in April 2010. Paul Jenkins (economist) Paul Jenkins is a Canadian economist and Distinguished Fellow at The Centre for International Governance"
"of England, before becoming an Assistant Professor at Columbia University. He joined Goldman Sachs in 2000 as Senior European Economist, a position he held until 2011. In June 2011, he replaced the departing Andrew Sentance on the Bank of England Monetary Policy Committee. Broadbent is also an Executive Fellow of Economics at London Business School. Ben Broadbent Benjamin Robert Hamond Broadbent (born 1 February 1965) is a British economist and has been Deputy Governor for Monetary Policy at the Bank of England since 1 July 2014. He had previously been an external member of the Bank of England's Monetary Policy"
"Andrew Bailey (banker) Andrew John Bailey (born 30 March 1959) is a British central banker, who was Deputy Governor of the Bank of England from April 2013 to July 2016. He had previously served as the Bank's Chief Cashier from January 2004 until April 2011. He is currently the Chief Executive Officer of the Financial Conduct Authority. Bailey attended Wyggeston Boys' Grammar School, Leicester from where he went to Queens' College, Cambridge, where he gained a BA in History and a PhD. After university, Bailey became a research officer at the London School of Economics, before joining the Bank of"
"Morgan Stanley spin-off, Discover Financial Services. In 2008, she returned to the United Kingdom to join Experian and was appointed a managing director with responsibility for the UK and Ireland operations. She moved to Santander UK in September 2011 as head of high street operations. In 2012, she earned £2.5 million. In June 2013, she was selected as the Bank of England's first chief operating officer (COO) by new Governor Mark Carney. She took up the appointment on 1 July 2013. This made her the most senior female employee in the bank's history, and effectively the deputy to the Governor"
"potential for £4 million in shares. The Royal Bank of Scotland stated that, as of the announcement, the search for Hester's successor would commence. Hester was replaced as CEO by New Zealander Ross McEwan, formerly the head of the bank's retail arm, on 1 October 2013. McEwan, who was 56 years old at the start of his tenure, will receive no bonus for his work in 2013 or at the end of 2014, and his pension will be replaced by an annual cash sum equivalent to 35 per cent of his salary as CEO. In November 2013, Royal Bank of"
"as Bank Governor. Deputy bank governor Cleviston Haynes took over as acting Governor. He eventually succeeded Worrell as full-fledged Governor in July 2017. After leaving the Bank, Worrell founded and became president of his consulting firm, DeLisle Worrell & Associates, which specializes in economic modeling and forecasting. In June 2018, he was appointed a Member of the Financial Policy Council of the Bermuda Monetary Authority, a post which he continues to hold. He also continues to be a member of the prominent Bretton Woods Committee, a network of prominent global citizens which works to demonstrate the value of international cooperation"
"is the Prime Minister. This includes the Governor of the Bank of England (currently Mark Carney) and up to 14 directors in total (currently there are 12, 9 men and 3 women). The Governor may serve for a maximum of 8 years, deputy governors for a maximum of 10 years, but they may be removed only if they acquire a political position, work for the bank, are absent for over 3 months, become bankrupt, or ""is unable or unfit to discharge his functions as a member"". This makes removal hard, and potentially a court review. A sub-committee of directors sets"
"David A. Dodge David Allison Dodge, (born June 8, 1943) is a Canadian economist. He served a seven-year term as Governor of the Bank of Canada from February 1, 2001 to January 31, 2008. He was succeeded by Mark Carney. On September 12, 2008, he joined Bennett Jones LLP, a leading Canadian law firm, as a senior advisor in their Ottawa office. On May 2, 2008, he was elected as incoming chancellor of Queen's University, with that position to begin on July 1, 2008. Dodge served a three-year term as Queen's chancellor, and accepted a further three-year term beginning on"
"2012 onwards, some economists began advocating variants of helicopter drops, including 'QE for the people', and a 'debt jubilee' financed with the monetary base. These proposals reflected a sense that conventional policies, including QE, were failing or having many adverse effects - on either financial stability or the distribution of wealth and income. In 2013, the chairman of the UK's Financial Services Authority (FCA), Adair Turner, who had been considered a serious candidate to succeed Mervyn King as Governor of the Bank of England, argued that deficit monetisation is the fastest way to recover from the financial crisis in a"
"the former Bank of England Governor Mervyn King), his MA in economics at the University of Warwick in 1972, and his PhD in economics at Princeton University in 1974. He was a Lecturer in Economics at University of Essex, a fellow at Churchill College, Cambridge, and then a professor at the London School of Economics. In 1984, he returned to the U.S., where he taught at the Massachusetts Institute of Technology and, since 1993, at Harvard University. He became the first Andrew E. Furer Professor of Economics in 1997 and was chairman of the Harvard economics department from 2000 to"
"They own a farm in New Zealand. Ross McEwan Ross Maxwell McEwan (born 16 July 1957) is a New Zealand banker, who has been the chief executive officer (CEO) of The Royal Bank of Scotland Group (RBS), a FTSE 100 company, since 1 October 2013, succeeding Stephen Hester. McEwan was educated at Hastings Boys' High School, Hastings, followed by Massey University, where he completed a degree in business studies and human resources, despite having failed an accountancy module twice. He later earned a master in business administration from the Harvard Business School. McEwan's first top management position was as CEO"
"closely connected with both the United States and the eurozone. In 2012 the UK economy was in recession, being negatively impacted by reduced economic activity in Europe, and apprehensive regarding possible future impacts of the Eurozone crisis. The Bank of England made substantial funds available at reduced interest to UK banks for loans to domestic enterprises. The bank is also providing liquidity by purchase of large quantities of government bonds, a programme which may be expanded. Bank of England support of British banks with respect to the Eurozone crisis was backed by the British Treasury. Bank of England governor Mervyn"
"which took five months from the beginning of October 2008 to get down from 5.0% to 0.5%, where they remained for several years. King abandoned his institution's remit on keeping inflation around 2%. After becoming only the second Bank of England governor to speak to the TUC in its 142-year history, King conceded that people were ""entitled to be angry"" about unemployment and the bank bailout. King has been scathing about the banking sector since it crashed, especially its ""breathtaking"" £1 trillion bailout and its continuation of bonus awards in 2009, calling for a serious review of banking's structure and"
"was elected to succeed Wells Fargo current chairman, Stephen Sanger, on Jan. 1, 2018, making the former Federal Reserve governor the first woman to hold the top board role at one of the nation's largest banks. Elizabeth Ashburn Duke Elizabeth Ashburn Duke (born July 23, 1952) is an American bank executive, most notable for being a member of the Board of Governors of the Federal Reserve System of the United States from 2008 through 2013. She was confirmed by the Senate June 27, 2008 to fill an unexpired term ending January 31, 2012. She was the seventh woman to be"
"Juliet Wheldon Dame Juliet Louise Wheldon DCB, QC (26 March 1950 – 2 September 2013) was a British civil servant, latterly (as of 2009) the legal adviser to Mervyn King, the Governor of the Bank of England. From July 2000 until 2006 she was the first British woman to serve as Treasury Solicitor and Head of the Government Legal Service. In 2008 she was named as one of The Times Law 100. Wheldon attended Sherborne School For Girls and Lady Margaret Hall, Oxford, where she read history, before being called to the Bar by Gray's Inn in 1975. Dame Juliet"
"until 24 February 2015, when he resigned following a sting by journalists involving a bogus Chinese company and his suspension from the Conservative Party. Former Attorney-General the Rt Hon. Dominic Grieve, QC, MP was appointed as his replacement on 15 September 2015. The membership of the committee is as follows: Previous chairmen of the committee are Tom King (1994–2001), Ann Taylor (2001–05), Paul Murphy (2005–08), Margaret Beckett (January – October 2008), Dr. Kim Howells (2008–10) and Malcolm Rifkind (2010-2015). In the 2012 James Bond film ""Skyfall"", Ralph Fiennes plays Gareth Mallory, the chairman of the committee, who becomes the new"