This article is from the source 'guardian' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.theguardian.com/business/live/2015/nov/11/bank-of-england-mark-carney-uk-unemployment-draghi-live
The article has changed 9 times. There is an RSS feed of changes available.
Version 7 | Version 8 |
---|---|
George Osborne: Public rightly angry about bad bankers - as it happened | George Osborne: Public rightly angry about bad bankers - as it happened |
(about 1 month later) | |
5.38pm GMT | 5.38pm GMT |
17:38 | 17:38 |
European markets close higher | European markets close higher |
Despite more weak Chinese data and worries about US rate rises in December, markets have recovered a little poise. A spate of well received earnings reports from Europe, including Carlsberg, helped matters, while the AB InBev bid for SABMiller also lifted investors’ spirits. The final scores showed: | Despite more weak Chinese data and worries about US rate rises in December, markets have recovered a little poise. A spate of well received earnings reports from Europe, including Carlsberg, helped matters, while the AB InBev bid for SABMiller also lifted investors’ spirits. The final scores showed: |
On Wall Street the Dow Jones Industrial Average is currently up 37 points or 0.2%. | On Wall Street the Dow Jones Industrial Average is currently up 37 points or 0.2%. |
On that note, it’s time to close up for the evening. Thanks for all your comments and we’ll be back tomorrow. | On that note, it’s time to close up for the evening. Thanks for all your comments and we’ll be back tomorrow. |
5.25pm GMT | 5.25pm GMT |
17:25 | 17:25 |
You heard him! Drinks on Mark #BoEOpenForum | You heard him! Drinks on Mark #BoEOpenForum |
5.24pm GMT | 5.24pm GMT |
17:24 | 17:24 |
And then Carney is gone, after a promise of drinks in the crypt for those in the Guildhall, drinks on the Daily Mail’s Alex Brummer for those who attended his session in Edinburgh and for those at home, drinks in the local pub on the Bank thanks to its QE programme. | And then Carney is gone, after a promise of drinks in the crypt for those in the Guildhall, drinks on the Daily Mail’s Alex Brummer for those who attended his session in Edinburgh and for those at home, drinks in the local pub on the Bank thanks to its QE programme. |
5.20pm GMT | 5.20pm GMT |
17:20 | 17:20 |
Carney: [It is] the responsibility of authorities to explain why things are being done. Lot of postings said there is a lot of jargon...even as we are trying to explain things. | Carney: [It is] the responsibility of authorities to explain why things are being done. Lot of postings said there is a lot of jargon...even as we are trying to explain things. |
Updated | Updated |
at 5.21pm GMT | at 5.21pm GMT |
5.16pm GMT | 5.16pm GMT |
17:16 | 17:16 |
In his closing remarks, Bank of England governor Mark Carney - who maintained his net contribution was to come up with the words Open Forum - repeated the disconnect between the sector and the public: | In his closing remarks, Bank of England governor Mark Carney - who maintained his net contribution was to come up with the words Open Forum - repeated the disconnect between the sector and the public: |
We are all going to go back and reflect on what we’ve learned. | We are all going to go back and reflect on what we’ve learned. |
[In the sessions there was] almost universal reaffirmation of the imporatance of markets,... not just to the econmy but to people’s everyday lives. | [In the sessions there was] almost universal reaffirmation of the imporatance of markets,... not just to the econmy but to people’s everyday lives. |
But the level of trust is quite low. Disconnect in how we in finance see sector and how public see the sector. | But the level of trust is quite low. Disconnect in how we in finance see sector and how public see the sector. |
The disconnect is not in public’s mind. | The disconnect is not in public’s mind. |
There is optimism around institutions, a lot has been done to make banks stronger, they are beginning to adjust their business models. [We can say to them] there is no other big wave of capital regulation coming, last pieces of puzzle are put in place. | There is optimism around institutions, a lot has been done to make banks stronger, they are beginning to adjust their business models. [We can say to them] there is no other big wave of capital regulation coming, last pieces of puzzle are put in place. |
Now it’s about adjusting business models to new realities. Business models pre-crisis not going to be effective now. | Now it’s about adjusting business models to new realities. Business models pre-crisis not going to be effective now. |
Back to trust and he said: | Back to trust and he said: |
Trust is low for two reasons, because of misconduct. lack of client focus. | Trust is low for two reasons, because of misconduct. lack of client focus. |
5.03pm GMT | 5.03pm GMT |
17:03 | 17:03 |
As we edge towards the close, both the Bank’s Jon Cunliffe and chair of this final panel Sir Richard Lambert agree the discussion has been useful and should continue after this event finishes. | As we edge towards the close, both the Bank’s Jon Cunliffe and chair of this final panel Sir Richard Lambert agree the discussion has been useful and should continue after this event finishes. |
Updated | Updated |
at 5.03pm GMT | at 5.03pm GMT |
4.58pm GMT | 4.58pm GMT |
16:58 | 16:58 |
Giles Fraser says its time to get rid of acronyms - it’s a part of group think we should do without. | Giles Fraser says its time to get rid of acronyms - it’s a part of group think we should do without. |
Call by @gilesfraser for ban on acronyms goes down well in Edinburgh #BoEOpenForum | Call by @gilesfraser for ban on acronyms goes down well in Edinburgh #BoEOpenForum |
4.44pm GMT | 4.44pm GMT |
16:44 | 16:44 |
Sir Jon Cunliffe, deputy governor at the Bank of England on credit: | Sir Jon Cunliffe, deputy governor at the Bank of England on credit: |
John cunliffe responding to my earlier Q: ''credit is a public good like water - like water you can drown in it.'' Quite so. #BoEOpenForum | John cunliffe responding to my earlier Q: ''credit is a public good like water - like water you can drown in it.'' Quite so. #BoEOpenForum |
4.40pm GMT | 4.40pm GMT |
16:40 | 16:40 |
A rival candidate for quote of the day, from the final panel going on now. Talking about debt and credit, the Reverend Canon Giles Fraser said: | A rival candidate for quote of the day, from the final panel going on now. Talking about debt and credit, the Reverend Canon Giles Fraser said: |
We are approaching this terrible time called Christmas.. go into the Westfield shopping centre and you’ll see tens of thousands of people buying lots of things they don’t want with money they don’t have for people they don’t like. | We are approaching this terrible time called Christmas.. go into the Westfield shopping centre and you’ll see tens of thousands of people buying lots of things they don’t want with money they don’t have for people they don’t like. |
We’re encouraged to do this because of this thing called growth. I worry about moral hazard of debt... | We’re encouraged to do this because of this thing called growth. I worry about moral hazard of debt... |
Updated | Updated |
at 4.42pm GMT | at 4.42pm GMT |
4.28pm GMT | 4.28pm GMT |
16:28 | 16:28 |
Nobody knows how money works these days, we just hope it's there when we need it - quote of the day Blythe Masters #BoEOpenForum | Nobody knows how money works these days, we just hope it's there when we need it - quote of the day Blythe Masters #BoEOpenForum |
Blythe Masters, the chief executive of Digital Asset Holdings, was speaking at one of the afternoon sessions. | Blythe Masters, the chief executive of Digital Asset Holdings, was speaking at one of the afternoon sessions. |