Bank of England Governor Mark Carney News

Outgoing BoE Governor Discusses Risks of Negative Interest Rates, Climate Change

Mark Carney said he’s lucky he never had to cut interest rates below zero as Bank of England governor because they would have damaged the UK. Carney, who leaves the central bank next month, has long been opposed to negative …

Financial Services Industry Must Act Faster on Climate Change: Bank of England Chief

Financial services have been too slow to cut investment in fossil fuels, a delay that could lead to a sharp increase in global temperatures, Bank of England Governor Mark Carney said in an interview broadcast on Monday. Carney, due to …

U.K. Business Executives, Economists, Politicians React to New BoE Boss Bailey

Britain’s new government named Andrew Bailey as the next Bank of England boss on Friday. Following is reaction to his appointment. LIZ MARTINS, UK ECONOMIST, HSBC “In terms of Mr Bailey’s position on the dove-hawk spectrum, it is very hard …

U.K. Names Bailey as Bank of England Chief, Succeeding Carney

Andrew Bailey will be the next head of the Bank of England after the government chose to replace Mark Carney with the U.K.’s top financial regulator, just as Britain faces the next phase of Brexit. He’ll start on March 16, …

Many Major Central Banks, Minus U.S. Fed, Taking Action on Climate Change Risks

Bank of England Governor Mark Carney was in no mood for laughter as he stood in his tuxedo before the great and good of the British insurance industry. “I’m going to give you a speech without a joke, I’m afraid,” …

UK Regulator Asks Insurers to Weigh Possible Business Impact of Climate Change

The Bank of England for the first time is asking British insurers to gauge how global warming might impact the value of the stocks and bonds they hold — and its potential to upend financial markets. The central bank, which …

California Commissioner Yet to Move on Petition from Climate Activists for More Insurer Regs

Nobody’s saying much as California Insurance Commissioner Ricardo Lara considers how he will respond to a petition submitted by climate change activists urging him to place new regulations on insurers to disclose what projects in the fossil fuel industry they …

Bank of England to Issue Rules for How Banks, Insurers Should Manage Climate Risk

The Bank of England will soon spell out how it wants banks, insurers and investment companies to manage the financial risks from climate change, Governor Mark Carney said on Thursday. The central bank under Carney has been vocal in highlighting …

Bank of England Pressures EU to Deliver No-Deal Brexit Fix for Financial System

The Bank of England turned up the pressure on the European Union to deliver legislation within weeks to avert a breakdown of access to London’s crucial financial infrastructure in a no-deal Brexit. “By early to mid-December, there would have to …

UK Insurers, Banks Need ‘Credible Plans’ for Climate Change Risks: Bank of England

Britain’s banks and insurers must come up with credible plans for protecting themselves against risks from climate change and may need to hold more capital, the Bank of England said on Monday. “Financial risks from climate change will be minimized …