Sun. Jan 24th, 2021

Sweden ends negative interest rates; Bank of England decision looms – business live

Rolling coverage of the latest economic and financial news

11.26am GMT

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.”

11.00am GMT

Here’s our news story on this morning’s retail sales shocker:

Related: Retail sales at 19-month low as Christmas shoppers leave it late

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