Rolling coverage of the latest economic and financial news
- Latest: Riksbank hikes interest rates to… zero
- BoE press conference audio feed hacked
- Some City traders got crucial head start on Carney comments
- Bank sets interest rates at noon
- Try the Guardian Business Christmas Quiz!
The Bank of England’s early-access breach has broader implications for the new governor’s role, according to former rate-setter Andrew Sentance.
Successive governors have taken on greater and greater responsibilities. These range from dealing with intense scrutiny over every word in market-sensitive interest rate announcements to running a large organisation with significant security duties.
“One of the weaknesses of the Bank’s organisation is too much power is concentrated in the governor.
“If I was making a recommendation it would be to act more as a chairman and less as a chief executive.”
“The productivity of deputy governors has not been a good lead to the economy.”
Here’s our news story on this morning’s retail sales shocker: