New Deputy Governor appointed at the Bank of England The Bank of England has announced that Andrew Bailey, currently Managing Director of the Prudential Business Unit at the Financial Services Authority, has been appointed as Deputy Governor of the Bank of England, with effect from April 1st. This will be the first time that the Bank will have three concurrent Deputy Governors.
Office of Fair Trading gives fuel industry a clean bill of health In a controversial report, the Office of Fair Trading (OFT) said that motorists and hauliers are paying fair fuel prices in the UK. Their 6-week study of the Â£32bn petrol and diesel market concluded that little action was needed.
Funding for Lending starts to work The Funding for Lending (FLS) scheme - introduced earlier this year by the Bank of England to offer cheaper funded money amounting to approximately Â£60bn to banks and building societies to enable them to lend-on to individuals and smaller businesses â€“ is showing signs of starting to work. Although in early December they reported that only Â£4.
Surprise choice for new Bank of England Governor In a surprise announcement by the Chancellor of the Exchequer, George Osborne, Mr. Mark Carney has been named as the new Governor of the Bank of England.
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