"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"
"in 1990 as a non-executive director, and became the chief economist in 1991. In 1998, he became a deputy governor of the bank and a member of the Group of Thirty. King was appointed as Governor of the Bank of England in 2003, succeeding Edward George. Most notably, he oversaw the bank during the financial crisis of 2007–2008 and the Great Recession. King retired from his office as governor in June 2013, and was succeeded by Mark Carney. He was appointed a life peer and entered the House of Lords as a crossbencher in July 2013. Since September 2014 he"
"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"
"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"
"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"
"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"
"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"
"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"
"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"
"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"
"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"
"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"
"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"
"Governor of the Bank of England The Governor of the Bank of England is the most senior position in the Bank of England. It is nominally a civil service post, but the appointment tends to be from within the bank, with the incumbent grooming his or her successor. The Governor of the Bank of England is also Chairman of the Monetary Policy Committee, with a major role in guiding national economic and monetary policy, and is therefore one of the most important public officials in the United Kingdom. According to the original charter of 27 July 1694 the bank's affairs"
"banks"", pinpointing the banks' sense of grievance on their finding it ""very, very difficult to face up to the failure of their banking model"". With King's term as governor ending in 2013, top UK banks have warned that unless a less ""hostile"" figure is found as a successor, they may feel it necessary to move abroad. On 26 November 2012, Mark Carney was named as King's successor. King had faced accusations of refusing funding to the Northern Rock Bank, precipitating a run on that bank, a situation not seen in the UK since 1914. King later said that it had"
"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"
"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 original charter of 27 July 1694 the Bank's affairs would be supervised by a Governor, the Deputy Governor and 24 directors. Since then, however, the role of Deputy Governor has been split and redefined three times (by the Bank of England Act 1998, the Financial Services Act 2012 and again in 2014), such that, as of May 2016, there are"
"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"
"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"
"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"
"the Bank of England, Hogg was appointed Chief Executive Officer (CEO) of Visa’s European operations in October 2017. In 1999, Hogg married Steven Sacks the couple have two children. Charlotte Hogg Charlotte Mary Hogg (born 26 August 1970) is a British management consultant and senior executive in financial services and central banking. In October 2017 she was appointed as CEO of Visa’s European operations. She was the chief operating officer of the Bank of England between 2013 and 2017, and additionally served briefly as Deputy Governor (Markets and Banking) at the Bank of England from 1 March 2017 to 14"
"4 March 2000, and appointed a Deputy Lieutenant of Cornwall in March 2006. Edward George, Baron George Edward Alan John George, Baron George (16 September 1938 – 18 April 2009), known as Eddie George, or ""Steady Eddie"", was Governor of the Bank of England from 1993 to 2003 and sat on the board of Rothschild. George was born and grew up in Carshalton, the son of Alan, a Post Office clerk, and his wife Olive. He attended the independent school Dulwich College on a scholarship. Having learnt to speak Russian at Dulwich, he carried out his National Service at the"
"Charlotte Hogg Charlotte Mary Hogg (born 26 August 1970) is a British management consultant and senior executive in financial services and central banking. In October 2017 she was appointed as CEO of Visa’s European operations. She was the chief operating officer of the Bank of England between 2013 and 2017, and additionally served briefly as Deputy Governor (Markets and Banking) at the Bank of England from 1 March 2017 to 14 March 2017, before resigning from both positions because she had failed to declare that her brother was employed in the banking industry. She previously worked for McKinsey & Company,"
"Edward George, Baron George Edward Alan John George, Baron George (16 September 1938 – 18 April 2009), known as Eddie George, or ""Steady Eddie"", was Governor of the Bank of England from 1993 to 2003 and sat on the board of Rothschild. George was born and grew up in Carshalton, the son of Alan, a Post Office clerk, and his wife Olive. He attended the independent school Dulwich College on a scholarship. Having learnt to speak Russian at Dulwich, he carried out his National Service at the Joint Services School for Linguists. He attended and graduated from Emmanuel College, Cambridge."
"The campaign, which gained the support of 35,000 petitioners, and financial support for a potential legal challenge which Criado-Perez had not ruled out, led Mark Carney, the newly appointed Governor of the Bank of England, to announce a change of plan on 24 July 2013. The Bank announced that the image of Jane Austen would appear on the £10 note, instead of Churchill. The process to make such decisions is to undergo an extensive review. ""People have said this was not such a big thing to tackle, but I didn't especially pick on banknotes"", Criado-Perez commented to ""The Observer""s Vanessa"
"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 Committee between June 2011 and June 2014. He attended St Paul's School, London from 1977 to 1982, gained a first-class honours degree in Economics from Trinity Hall, Cambridge in 1988, and then studied for a Ph.D at Harvard University, where he was a Fulbright Scholar. After working for HM Treasury, he worked for the Bank"
"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"
"People since 2012. In February, during an interview with the Guardian, Cleland revealed that she does not use contactless payment cards, in part because she was yet to fully trust the technology. Cleland pointed out that this was a personal opinion and not the official view of the Bank of England. Victoria Cleland Victoria Mary Florence Cleland (born 26 February 1970) was the Director for Banknotes and Chief Cashier of the Bank of England, a position she held from March 2014 until 1 June 2018 when was replaced by Sarah John (the third woman to be named as Chief Cashier)"
"than the typical eight, and will seek UK citizenship. At Government request, his term was extended to 2019, then again to 2020. He is the first non-British citizen to hold the post. As of January 2014, the Bank also has four Deputy Governors. BOEN was dissolved, following liquidation, in July 2017. There are two main areas which are tackled by the Bank to ensure it carries out these functions efficiently: Note: It is important to note that ""monetary"" and ""financial"" are synonyms. Stable prices and confidence in the currency are the two main criteria for monetary stability. Stable prices are"
"Victoria Cleland Victoria Mary Florence Cleland (born 26 February 1970) was the Director for Banknotes and Chief Cashier of the Bank of England, a position she held from March 2014 until 1 June 2018 when was replaced by Sarah John (the third woman to be named as Chief Cashier) . She is the second woman to hold the post of Chief Cashier. She replaced Chris Salmon when he was appointed as Executive Director for Markets at the Bank of England. Cleland studied philosophy, politics and economics at the University of Oxford and was sponsored by the Bank for an MBA"
"to 2012. Afterwards, he retired to work as an Economics professor at Yonsei University. Lee is married and has a son and a daughter. Lee Ju-yeol Lee Ju-yeol (; born 24 July 1952) is a South Korean economist and technocrat who was appointed Governor of the Bank of Korea, the South Korean central bank, on 1 April 2014. He was re-nominated for the governorship by President Moon Jae-in and the nomination was confirmed by the National Assembly, thus renewing his governorship to March 2022. Lee received his BA in Business Management from Yonsei University in 1977 and MA in Economics"