View more on these topics

May backs Carney to stay at Bank of England

Mark-Carney-close-up-focused-700.jpgBank of England governor Mark Carney is willing to prolong his term at the central bank to provide continuity amid Brexit, he said at a parliamentary hearing yesterday.

Carney, who was originally set to leave the role in June 2018, agreed to stay until June 2019 following the outcome of the Brexit referendum and the resulting uncertainty.

Carney said: “Even though I already agreed to extend my time to support a smooth Brexit, I’m willing to do whatever else I can in order to promote smooth Brexit and an effective transition at the Bnk.

Carney: Market chaos from Brexit could see interest rates cut

“And I would emphasize the second point as well, to make sure that the transition process is done in an effective and orderly manner.”

He added: “The chancellor and I discussed this, I would expect an announcement to be made in due course.“

The Financial Times reports that the Prime Minister Theresa May has endorsed Carney’s intention to remain in the role.

Carney’s announcement and its backing from the Downing Street follows recent reports that the government approached Carney to ask him to remain at the helm of Bank behind the scenes.

Recommended

Equity release a growing market for solicitors – Pru

Research from Prudential conducted among UK private client solicitors shows a growing need for advisory work in equity release. Twenty nine per cent of solicitors believe demand for legal guidance in the area of equity release will increase in the next five years and over the last two years, one in four (26 per cent) […]

2

Blog: Why continue to line the pockets of fund houses?

Insurance companies and wealth management firms have always put their financial gains and interests before that of any client. Why wouldn’t they? They are in business to make a profit. The reason they have long promoted product over service is that layers of costs could be built into them. Up until the RDR, these costs […]

4

FOS orders compensation over Sipp delay by Mattioli Woods

The Financial Ombudsman Service has decided that Mattioli Woods must pay compensation over a botched Sipp administration which resulted in delays to a transfer, but does not have to pay back some of the fees it charged. Despite an initial ruling in his favour, a client said the FOS adjudicator had calculated redress unfairly, and […]

UK-Houses-Building-Homes-700x450.jpg

UK housebuilders: political risk on the rise

Mark Martin, Head of UK Equities, Neptune As expected, the Autumn Budget contained multiple policies directed towards the Government’s stated desire to support home ownership and housebuilding.  It did not include any significant measures to solve the housing shortage, however. Read article Important information Investment risks Neptune funds may have a high historic volatility rating […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com