BOE’s Carney Announces Easing of Bank Rules

Bank of England Governor Mark Carney announced an easing of rules for banks in need of short-term cash, taking a new approach to how the central bank will work with the City of London five years after the financial crisis.

In his first major speech on British financial regulation, Carney struck a softer tone towards banks than his predecessor Mervyn King but denied that he was “cheerleading” for them.

Carney took over the Bank in August and quickly overhauled the way it conducts monetary policy. As a former Goldman Sachs banker with deep experience as a regulator overseeing the global banking industry, British bankers had been waiting to see how he would change the central bank’s relationship with the City.

Reuters

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.