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02/05/2002
Speculation rife on successor to BoE Governor
Speculation has already commenced as to who will succeed the current Governor of the Bank of England, Sir Edward George, 15 months ahead of the date of his retirement.
Sir Edward's decade at the head of the Bank of England will draw to a close on 30 June 2003, marking the end of his second five-year term as Governor.
Initial rumours suggest there are two main contenders at the moment, who seem to have disparate stances on the all-important issue of euro membership.
On the euro-sceptic side is Mervyn King, formerly a chief economist at the Bank of England, and the current deputy governor. He shares in common with Sir George, a cautious approach to euro membership, and believes that the Bank of England's ability to set its rates is more effective than that of the European Central Bank.
The other name in the running is Sir Howard Davies, Chairman of the Financial Services Agency (FSA) and former deputy governor of the Bank of England. Sir Howard left the Bank to head the FSA at the time of its separation from the Bank, and maintains extremely strong links to business through his former position as director general of the Confederation of British Industry (CBI) and head of the Audit Commission.
However, Sir Howard differs from his rival in that he favours Britain's entry into the Eurozone.
Andrew Crockett, head of the Bank of International Settlements, has also been tipped as a possible contender. He comes from a Bank of England background and he has since worked for many years at the International Monetary Fund, maintaining contacts with central banks and international commercial banks worldwide.
Another candidate, Goldman Sachs economist Gavyn Davis, has since effectively ruled himself out of the race by recently accepting the job of BBC chairman.
(CL)
Sir Edward's decade at the head of the Bank of England will draw to a close on 30 June 2003, marking the end of his second five-year term as Governor.
Initial rumours suggest there are two main contenders at the moment, who seem to have disparate stances on the all-important issue of euro membership.
On the euro-sceptic side is Mervyn King, formerly a chief economist at the Bank of England, and the current deputy governor. He shares in common with Sir George, a cautious approach to euro membership, and believes that the Bank of England's ability to set its rates is more effective than that of the European Central Bank.
The other name in the running is Sir Howard Davies, Chairman of the Financial Services Agency (FSA) and former deputy governor of the Bank of England. Sir Howard left the Bank to head the FSA at the time of its separation from the Bank, and maintains extremely strong links to business through his former position as director general of the Confederation of British Industry (CBI) and head of the Audit Commission.
However, Sir Howard differs from his rival in that he favours Britain's entry into the Eurozone.
Andrew Crockett, head of the Bank of International Settlements, has also been tipped as a possible contender. He comes from a Bank of England background and he has since worked for many years at the International Monetary Fund, maintaining contacts with central banks and international commercial banks worldwide.
Another candidate, Goldman Sachs economist Gavyn Davis, has since effectively ruled himself out of the race by recently accepting the job of BBC chairman.
(CL)
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Bank Of England Governor Meets With NI Business Leaders
The Governor of the Bank of England, Mark Carney, has met with senior business leaders during a private event in Belfast. Mr Carney met with senior leaders from the business community and the voluntary sector during an event at Belfast's new Grand Central Hotel on Thursday, 13 September.
Bank Of England Governor Meets With NI Business Leaders
The Governor of the Bank of England, Mark Carney, has met with senior business leaders during a private event in Belfast. Mr Carney met with senior leaders from the business community and the voluntary sector during an event at Belfast's new Grand Central Hotel on Thursday, 13 September.
04 January 2002
Bank of England may raise interest rates to stem consumer spending
Speculation is mounting that The Bank of England plans to step in to deal with the current credit card fuelled spending boom that is gripping the UK economy. The likelihood of this happening was raised after the head of the Bank of England, Sir Edward George, said that consumer demand needed to be moderated.
Bank of England may raise interest rates to stem consumer spending
Speculation is mounting that The Bank of England plans to step in to deal with the current credit card fuelled spending boom that is gripping the UK economy. The likelihood of this happening was raised after the head of the Bank of England, Sir Edward George, said that consumer demand needed to be moderated.
02 September 2011
Honohan Calls On 'Banks To Re-Vamp'
The Irish Central Bank Governor, Patrick Honohan, has called on banks to re-vamp their methods of dealing with the growing problem of mortgage arrears. Speaking at the Oireachtas Finance Committee, he said some would undoubtedly resume paying their mortgages, but some just will not recover.
Honohan Calls On 'Banks To Re-Vamp'
The Irish Central Bank Governor, Patrick Honohan, has called on banks to re-vamp their methods of dealing with the growing problem of mortgage arrears. Speaking at the Oireachtas Finance Committee, he said some would undoubtedly resume paying their mortgages, but some just will not recover.
27 August 2010
'Economy Improving' Says Bank, Despite Downgrade
Ulster Bank has announced that improving exports and more consumer spending has led to an improving economy, despite yesterday's downgrading of Ireland's credit rating. Ulster Bank said today it was revising its forecasts for Irish economic growth in 2010 upwards, predicts average annual GDP growth of 1%, up from -0.5% previously.
'Economy Improving' Says Bank, Despite Downgrade
Ulster Bank has announced that improving exports and more consumer spending has led to an improving economy, despite yesterday's downgrading of Ireland's credit rating. Ulster Bank said today it was revising its forecasts for Irish economic growth in 2010 upwards, predicts average annual GDP growth of 1%, up from -0.5% previously.
08 November 2002
Northern Bank posts record annual results
The annual results from the Northern Bank have revealed pre-tax profits of £111m up 13% on the previous corresponding year-end figures. The results include a £19.9m profit in relation to the disposal of subsidiary company Northern Bank Insurance Services to Wealth Management Europe Holdings another subsidiary of National Australia Bank.
Northern Bank posts record annual results
The annual results from the Northern Bank have revealed pre-tax profits of £111m up 13% on the previous corresponding year-end figures. The results include a £19.9m profit in relation to the disposal of subsidiary company Northern Bank Insurance Services to Wealth Management Europe Holdings another subsidiary of National Australia Bank.
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Northern Ireland WeatherToday:A rather cloudy start with patchy mainly light rain, but becoming brighter through the day as the rain turns more showery, the best of any sunnier spells in the south. Maximum temperature 16 °C.Tonight:A few bright spells at first and any showers gradually dying out. Low cloud and mist or drizzle over northern coastal parts will spread south to most areas overnight. Minimum temperature 7 °C.
