Podcasts about england governor andrew bailey

Alphabet shares rose in extended trade after reporting a top and bottom line beat, with its search and advertising units showing strong growth despite increasing AI competition. At the annual IMF meeting, ECB Governing Council Member Robert Holzmann told CNBC that he expects further rate cuts to come, but that the outcome of tariff talks will ultimately decide how much lower the base rate will fall. Bank of England Governor Andrew Bailey told CNBC exclusively that he doesn't think that the U.K. economy is on the brink of a downturn - despite the latest warning from the IMF. Over in Asia, Nissan flags a record loss of up to $5.3 billion dollars due to impairment charges as new CEO Ivan Espinosa attempts to turn around Japan's third largest automaker.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Your morning briefing, the business news you need in just 15 minutes.On today's podcast:(1) The Atlantic’s top editor said he was added to a text group in which top US officials discussed detailed plans to bomb Houthi targets in Yemen with other top US officials, an extraordinary breach of security from an administration that has repeatedly vowed to clamp down on leaks.(2) President Donald Trump said he will announce tariffs on automobile imports in the coming days — and indicated nations will receive breaks from next week’s “reciprocal” tariffs.(3) US and Russian officials met in Saudi Arabia for about 12 hours a day after American and Ukrainian teams held talks, as President Donald Trump pushes for progress in achieving a ceasefire in the war.(4) HSBC is considering outsourcing part of its sprawling trading business as executives struggle to justify making technology investments needed to keep up with larger rivals. (5) Britain needs a technological breakthrough such as artificial intelligence to counter the collapse in its long-term growth rate, Bank of England Governor Andrew Bailey said in a lecture at Leicester University.See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.On today's podcast:(1) London’s Heathrow airport will close all day Friday after a nearby fire caused a major power outage, throwing one of the world’s busiest airports and the travel plans of hundreds of thousands of people into chaos.(2) European Union leaders tussled over weapons deliveries to Kyiv and who would represent them in US-led diplomacy as the bloc struggled to formulate a strategy on Ukraine.(3) Bank of England Governor Andrew Bailey urged his rate-setting colleagues to tread carefully after the central bank held policy steady in the face of a turbulent global backdrop.(4) Turkey’s central bank raised one of its key interest rates in a surprise meeting on Thursday, the latest move by authorities to reverse a decline in the lira.(5) Israel’s cabinet approved Prime Minister Benjamin Netanyahu’s decision to fire the country’s domestic intelligence chief, defying thousands of protesters who rallied against his removal and those of other security and judicial officials.(6) The UK’s richest are set to unleash their savings to splash on luxury goods, cars or tech, a report showed, in signs that lower interest rates are boosting demand.See omnystudio.com/listener for privacy information.

​Jes Staley, former CEO of Barclays, is contesting a £1.8 million fine and a lifetime ban imposed by the UK's Financial Conduct Authority (FCA) over allegations that he misled regulators about his relationship with convicted sex offender Jeffrey Epstein. The FCA asserts that Staley "recklessly misled" both the regulator and the Barclays board regarding the nature and extent of his association with Epstein, leading to his resignation from Barclays in 2021.In his defense, Staley contends that Barclays was fully aware of his longstanding professional relationship with Epstein, emphasizing that their interactions were primarily business-related. He argues that the FCA's decision was reached unfairly, without providing him or Barclays an adequate opportunity to respond. The ongoing tribunal will scrutinize over 1,200 emails exchanged between Staley and Epstein, with testimonies expected from prominent figures, including Bank of England Governor Andrew Bailey and Barclays Chairman Nigel Higginsto contact me:bobbycapucci@protonmail.comsource:Ex-Barclays boss Jes Staley says bank knew about his ties to paedophile Jeffrey Epstein - as he appeals a £1.8m fine and ban by the City watchdog | Daily Mail OnlineTo help  support  the  podcast:https://www.spreaker.com/podcast/the-epstein-chronicles--5003294/support

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Japan’s government bond yields reached their highest levels in more than a decade and yields in Australia and New Zealand also surged as the rout in German bunds reverberated through global debt markets. (2) The European Central Bank is about to lower interest rates for the sixth time since June, though a volatile economic backdrop is sowing divisions over where to take borrowing costs from here. (3) President Emmanuel Macron said he’ll enter into talks on using France’s nuclear capabilities to defend European allies. (4) Financial markets are signaling that the risk of a recession is growing as tariff-related uncertainty and indicators of economic weakness spread fear across Wall Street. (5) Bank of England Governor Andrew Bailey says US President Donald Trump’s tariff war poses a large risk to the world economy and will not fix the trade imbalances he hopes to address. (6) President Donald Trump is exempting automakers from newly imposed tariffs on Mexico and Canada for one month, the White House said Wednesday, as a temporary reprieve following pleas from industry leaders.See omnystudio.com/listener for privacy information.

​Jes Staley, former CEO of Barclays, is contesting a £1.8 million fine and a lifetime ban imposed by the UK's Financial Conduct Authority (FCA) over allegations that he misled regulators about his relationship with convicted sex offender Jeffrey Epstein. The FCA asserts that Staley "recklessly misled" both the regulator and the Barclays board regarding the nature and extent of his association with Epstein, leading to his resignation from Barclays in 2021.In his defense, Staley contends that Barclays was fully aware of his longstanding professional relationship with Epstein, emphasizing that their interactions were primarily business-related. He argues that the FCA's decision was reached unfairly, without providing him or Barclays an adequate opportunity to respond. The ongoing tribunal will scrutinize over 1,200 emails exchanged between Staley and Epstein, with testimonies expected from prominent figures, including Bank of England Governor Andrew Bailey and Barclays Chairman Nigel Higginsto contact me:bobbycapucci@protonmail.comsource:Ex-Barclays boss Jes Staley says bank knew about his ties to paedophile Jeffrey Epstein - as he appeals a £1.8m fine and ban by the City watchdog | Daily Mail OnlineTo help  support  the  podcast:https://www.spreaker.com/podcast/the-epstein-chronicles--5003294/support

​Jes Staley, former CEO of Barclays, is contesting a £1.8 million fine and a lifetime ban imposed by the UK's Financial Conduct Authority (FCA) over allegations that he misled regulators about his relationship with convicted sex offender Jeffrey Epstein. The FCA asserts that Staley "recklessly misled" both the regulator and the Barclays board regarding the nature and extent of his association with Epstein, leading to his resignation from Barclays in 2021.In his defense, Staley contends that Barclays was fully aware of his longstanding professional relationship with Epstein, emphasizing that their interactions were primarily business-related. He argues that the FCA's decision was reached unfairly, without providing him or Barclays an adequate opportunity to respond. The ongoing tribunal will scrutinize over 1,200 emails exchanged between Staley and Epstein, with testimonies expected from prominent figures, including Bank of England Governor Andrew Bailey and Barclays Chairman Nigel Higginsto contact me:bobbycapucci@protonmail.comsource:Ex-Barclays boss Jes Staley says bank knew about his ties to paedophile Jeffrey Epstein - as he appeals a £1.8m fine and ban by the City watchdog | Daily Mail OnlineTo help  support  the  podcast:https://www.spreaker.com/podcast/the-epstein-chronicles--5003294/support

​Jes Staley, the former CEO of Barclays, is currently challenging a ban imposed by the UK's Financial Conduct Authority (FCA) that prohibits him from holding senior positions in the financial sector. The FCA alleges that Staley misled regulators about the nature and extent of his relationship with the late financier and convicted sex offender Jeffrey Epstein. Central to the FCA's case is a 2019 letter from Barclays to the FCA, which stated that Staley did not have a close relationship with Epstein and that their last contact occurred well before Staley joined Barclays in 2015. However, evidence presented by the FCA, including approximately 1,200 emails exchanged between Staley and Epstein from 2008 to 2012, suggests a closer relationship. In these emails, Staley referred to Epstein as "family" and "one of our deepest friends," contradicting the claims made in the 2019 letter.Staley's defense argues that Barclays was fully aware of his longstanding professional relationship with Epstein, asserting that the bank's board had been briefed on the matter. They contend that the 2019 letter to the FCA was intended solely to confirm that neither Staley nor Barclays had any knowledge of or involvement in Epstein's unlawful conduct, rather than to define the closeness of their relationship. The hearing, which commenced on March 3, 2025, at the Upper Tribunal in London, is expected to last two weeks. It will feature testimonies from prominent figures in the financial sector, including Bank of England Governor Andrew Bailey and Barclays Chair Nigel Higgins. The outcome of this case could have significant implications for Staley's career and the broader financial industry, as it brings to light the responsibilities of senior executives in disclosing associations with controversial figures.to contact me:bobbycapucci@protonmail.comsource:Jeffrey Epstein: This ex-CEO is risking all to clear his name over the paedophile

​Jes Staley, the former CEO of Barclays, is currently challenging a ban imposed by the UK's Financial Conduct Authority (FCA) that prohibits him from holding senior positions in the financial sector. The FCA alleges that Staley misled regulators about the nature and extent of his relationship with the late financier and convicted sex offender Jeffrey Epstein. Central to the FCA's case is a 2019 letter from Barclays to the FCA, which stated that Staley did not have a close relationship with Epstein and that their last contact occurred well before Staley joined Barclays in 2015. However, evidence presented by the FCA, including approximately 1,200 emails exchanged between Staley and Epstein from 2008 to 2012, suggests a closer relationship. In these emails, Staley referred to Epstein as "family" and "one of our deepest friends," contradicting the claims made in the 2019 letter.Staley's defense argues that Barclays was fully aware of his longstanding professional relationship with Epstein, asserting that the bank's board had been briefed on the matter. They contend that the 2019 letter to the FCA was intended solely to confirm that neither Staley nor Barclays had any knowledge of or involvement in Epstein's unlawful conduct, rather than to define the closeness of their relationship. The hearing, which commenced on March 3, 2025, at the Upper Tribunal in London, is expected to last two weeks. It will feature testimonies from prominent figures in the financial sector, including Bank of England Governor Andrew Bailey and Barclays Chair Nigel Higgins. The outcome of this case could have significant implications for Staley's career and the broader financial industry, as it brings to light the responsibilities of senior executives in disclosing associations with controversial figures.to contact me:bobbycapucci@protonmail.comsource:Jeffrey Epstein: This ex-CEO is risking all to clear his name over the paedophileBecome a supporter of this podcast: https://www.spreaker.com/podcast/the-epstein-chronicles--5003294/support.

​Jes Staley, the former CEO of Barclays, is currently challenging a ban imposed by the UK's Financial Conduct Authority (FCA) that prohibits him from holding senior positions in the financial sector. The FCA alleges that Staley misled regulators about the nature and extent of his relationship with the late financier and convicted sex offender Jeffrey Epstein. Central to the FCA's case is a 2019 letter from Barclays to the FCA, which stated that Staley did not have a close relationship with Epstein and that their last contact occurred well before Staley joined Barclays in 2015. However, evidence presented by the FCA, including approximately 1,200 emails exchanged between Staley and Epstein from 2008 to 2012, suggests a closer relationship. In these emails, Staley referred to Epstein as "family" and "one of our deepest friends," contradicting the claims made in the 2019 letter.Staley's defense argues that Barclays was fully aware of his longstanding professional relationship with Epstein, asserting that the bank's board had been briefed on the matter. They contend that the 2019 letter to the FCA was intended solely to confirm that neither Staley nor Barclays had any knowledge of or involvement in Epstein's unlawful conduct, rather than to define the closeness of their relationship. The hearing, which commenced on March 3, 2025, at the Upper Tribunal in London, is expected to last two weeks. It will feature testimonies from prominent figures in the financial sector, including Bank of England Governor Andrew Bailey and Barclays Chair Nigel Higgins. The outcome of this case could have significant implications for Staley's career and the broader financial industry, as it brings to light the responsibilities of senior executives in disclosing associations with controversial figures.to contact me:bobbycapucci@protonmail.comsource:Jeffrey Epstein: This ex-CEO is risking all to clear his name over the paedophile

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Rachel Reeves faces a new risk of having to make spending cuts after the UK government’s fiscal watchdog downgraded its growth forecast, leaving Britain’s finance minister scrambling to meet her budgetary rules when a key report is published next month. (2) UK taxpayers will end up paying £150 billion ($186 billion) to cover the total losses incurred by the Bank of England on its quantitative easing program, according to new estimates. (3) The rise of multi-manager hedge funds poses a threat to financial stability, according to Bank of England Governor Andrew Bailey. (4) Citadel founder Ken Griffin said he’s grateful that Elon Musk is taking time away from his companies to slash government spending but offered blunt criticisms of President Donald Trump’s rhetoric on tariffs. (5) Hamburg, Germany's largest seaport, is a hub of activity, handling two-thirds of the country's goods, but is vulnerable to the global trade war instigated by US President Donald Trump. (6) Federal Reserve Chair Jerome Powell said the central bank doesn’t need to rush to adjust interest rates, again signaling that officials will be patient before lowering borrowing costs further.See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.On today's podcast:(1) Bank of England Governor Andrew Bailey does “very strongly agree” with Chancellor of the Exchequer Rachel Reeves’ plans to boost UK growth. His deputy, Clare Lombardelli, is also “very supportive.” They may well be, but the central bank’s latest forecasts are certainly not.(2) The rush to ship gold from London to the US to take advantage of premium prices is fuelling strong demand for slots to withdraw metal from the Bank of England’s vault, an official said.(3) US Treasury Secretary Scott Bessent said he favors a strong dollar and has no plans to alter the government’s debt-issuance plans, showing a cautious approach toward financial markets from an administration that’s elsewhere rapidly upending the status quo.(4) The Trump administration’s campaign to root out perceived disloyalty or waste at the Justice Department, the US Agency for International Development and other federal agencies has lawmakers and former senior spy officials worried that the intelligence community is up next for a purge.(5) Amazon warned investors that it could face capacity constraints in its cloud computing division despite plans to invest some $100 billion this year, with most of the money going toward data centres, homegrown chips and other equipment to provide artificial intelligence services.See omnystudio.com/listener for privacy information.

Bank of England Governor Andrew Bailey discusses the BOE's latest interest rate decision with Bloomberg's Guy Johnson. See omnystudio.com/listener for privacy information.

Bank of England Governor Andrew Bailey provides thoughts on wages and interest trajectory.See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.On today's podcast: (1) Federal Reserve Chair Jerome Powell said the recent performance of the US economy has been “remarkably good,” giving central bankers room to lower interest rates at a careful pace. (2) Bank of England Governor Andrew Bailey has warned Chancellor of the Exchequer Rachel Reeves not to raise tariffs in retaliation to an expected wave of US-led protectionism, amid fears that President-elect Donald Trump will kick off a global trade war once he is sworn in next year. (3) Rachel Reeves said the UK's crackdown on banks in the wake of the global financial crisis has gone too far and vowed to give the country's watchdogs new marching orders to ensure they're focused on growing the economy. (4) JPMorgan Chase Chief Executive Officer Jamie Dimon said President-elect Donald Trump's tariff threats will “get people to the table,” adding that he hopes it's “done wisely.” Trump ruled out giving a post to Dimon in his second-term administration in a jab at the prominent Wall Street chief executive officer. (5) China's economy showed encouraging signs as retail sales grew at the strongest pace in eight months, indicating Beijing's recent stimulus efforts have boosted some key sectors.See omnystudio.com/listener for privacy information.

Bank of England Governor Andrew Bailey discusses his outlook on the markets and the latest Bank of England rate decision. He speaks with Bloomberg's Francine Lacqua. See omnystudio.com/listener for privacy information.

What would YOU like to hear about on Bloomberg? Help make shows like ours even better by taking our Bloomberg audience survey.Your morning briefing, the business news you need in just 15 minutes.On today's podcast:(1) City firms reported a 72% surge in non-financial misconduct complaints over the last three years following a string of high-profile scandals including sexual harassment allegations leveled at hedge fund chief Crispin Odey.(2) Prime Minister Keir Starmer says Britons who get additional income from stock holdings don't count as ‘working people,' suggesting he's willing to raise taxes on investors.(3) President Xi Jinping's boldest economic stimulus since the pandemic failed to impress global luminaries gathered in Washington this week, who called for more measures to rebalance China's growth and greater clarity over Beijing's policy plans.(4) European Central Bank Governing Council member Pierre Wunsch said it's far too early to start considering a half-point interest-rate reduction in December. Views among European Central Bank officials about where to take monetary policy are starting to diverge as the institution's 2% inflation target moves within close reach.(5) Clearing houses pose a risk to the financial system if they are not robustly operated, Bank of England Governor Andrew Bailey said. (6) Fragmentation in Europe's banking markets is leading to lower returns for shareholders and higher borrowing costs, according to UBS Group AG chief executive officer Sergio Ermotti. See omnystudio.com/listener for privacy information.

On today's Daily Voice, Sam recaps the first trading day of the week, where the Nasdaq stood out as the only major US equity market to close in positive territory, driven by strong performances from Nvidia and Apple. He also offers a preview of the upcoming trading sessions, highlighting key market-moving events such as anticipated comments from ECB President Christine Lagarde and Bank of England Governor Andrew Bailey. Lastly, Sam dives into the companies set to report their earnings later today

Rate easing optimism pushes Wall Street to its second week in the green as Fed Chair Jerome Powell sets the scene for a September cut, with traders still pondering the possibility of a potential 50 basis point move. However Bank of England Governor Andrew Bailey and ECB Chief Economist Philip Lane are more cautious on the outlook. U.S. Vice President Kamala Harris' presidential campaign says it has raised $540 million in little more than a month, as Republican vice-presidential candidate JD Vance endorses trade tariffs. In the Middle East, Israel declares a 48-hour state of emergency as fears grow of escalation between it and Hezbollah - in the biggest round of strikes between the two since 2006.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Bank of England Governor Andrew Bailey says that interest rates will settle at above pre-Covid levels as policymakers moved to cut rates for the first time since early 2020. He speaks with host Francine Lacqua. See omnystudio.com/listener for privacy information.

Bank of England Governor Andrew Bailey said there would be a case for cutting UK interest rates if the economy and inflation play out as the central bank expects. He has been speaking to Bloomberg's Francine Lacqua after the BOE voted to hold rates at a 16-year high of 5.25%. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Bank of England Governor Andrew Bailey may deliver a lift to British consumers with a stronger signal on when the central bank can lower borrowing costs from their highest in 16 years. (2) Former Bank of England chief economist Andy Haldane was debanked like Nigel Farage, the one-time Brexit Party leader, because he was designated "politically connected." (3) US President Joe Biden said he would halt additional shipments of offensive weapons to Israel if the country proceeded with a ground invasion of Rafah, decrying the potential loss of civilian life as "just wrong." (4) London is missing out on a rebound in Europe's initial public offering market, in yet another sign of its waning prospects as a listing destination.  (5) John Ternus, the head of hardware engineering, is emerging as a potential successor to Tim Cook as the CEO of Apple.See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Bank of England Governor Andrew Bailey said the UK and the rest of Europe are facing less of an inflation threat than the US, opening the prospect of a rate cut for Britain before the Federal Reserve moves. (2) Federal Reserve Chair Jerome Powell is making life tougher for his peers around the world as the prospect of higher-for-longer US interest rates reduces room for easier policy elsewhere. (3) Europe's economy is nearing the end of a malaise that's resulted in more than a year of near stagnation, according to European Central Bank President Christine Lagarde. (4) The European Union's waning clout versus major geopolitical rivals is sounding alarm bells in Europe's capitals, compelling leaders to discuss a radical transformation to boost the bloc's competitiveness in a hostile world. (5) The world's two great economic rivals, China and the US, will drive much of the increase in global public debt over the next five years, with American spending creating trouble for many other countries by keeping interest rates high, officials at the International Monetary Fund said.See omnystudio.com/listener for privacy information.

The Bank of England Governor Andrew Bailey has faced questions from MPs over what the BOE's former chief economist, Andy Haldane, told us about the risk of deeper recession from keeping interest rates high. Bloomberg Opinion columnist Marcus Ashworth shares Haldane's view, and says the BOE governor signalled an important shift in his thinking. As Birmingham Council announces a cost-cutting plan to tackle its financial problems, we discuss with Iain Murray of the Chartered Institute of Public Finance and Accountancy. Plus: business groups have written their wish list for the Chancellor ahead of the Budget. Our reporter Joe Mayes joins us with details. Hosted by Lizzy Burden and Stephen Carroll. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.On today's podcast: (1) Britain fell into a technical recession in the second half of 2023. GDP shrank 0.3% in the fourth quarter, pushing the UK into a shallow economic dip. (2) Israeli Prime Minister Benjamin Netanyahu has opted not to send a delegation to Cairo for follow-up talks aimed at securing a cease-fire with Hamas, again dismissing the militant group's demands as “delusional.” (3) Vladimir Putin praised Joe Biden as a more reliable alternative for Russia than Donald Trump, making his first public comments on the American presidential election. (4) Donald Trump is considering scaled-back commitments to some NATO members and a push for Ukraine to negotiate an end to the war with Russia if he returns to power next year, according to people familiar with the matter. (5) Bank of England Governor Andrew Bailey said weaker-than-expected inflation in January “pretty much leaves us where we were” after the data prompted traders to shift forward bets on interest-rate cuts. (6) Japan's economy unexpectedly slipped into recession after shrinking for a second quarter due to anemic domestic demand, prompting some central bank watchers to push back bets on when the nation's negative interest rate policy will end.See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.On today's podcast: Israeli Prime Minister Benjamin Netanyahu has opted not to send a delegation to Cairo for follow-up talks aimed at securing a cease-fire with Hamas, again dismissing the militant group's demands as “delusional.” Vladimir Putin praised Joe Biden as a more reliable alternative for Russia than Donald Trump, making his first public comments on the American presidential election.Donald Trump is considering scaled-back commitments to some NATO members and a push for Ukraine to negotiate an end to the war with Russia if he returns to power next year, according to people familiar with the matter.Bank of England Governor Andrew Bailey said weaker-than-expected inflation in January “pretty much leaves us where we were” after the data prompted traders to shift forward bets on interest-rate cuts.Japan's economy unexpectedly slipped into recession after shrinking for a second quarter due to anemic domestic demand, prompting some central bank watchers to push back bets on when the nation's negative interest rate policy will end.At least one person has been killed and more than 20 others wounded after a shooting at a parade in Kansas City celebrating the winners of the Superbowl.See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast:(1) US President Joe Biden said he's pushing for a six-week pause in fighting between Israel and Hamas to allow for the release of hostages, saying those conditions could lay the groundwork for broader peace.(2) Bond traders have come more in line with the Federal Reserve's trajectory for the upcoming easing cycle. Strategists at Citigroup Inc. say what's missing now is traders hedging the risk of a very brief easing cycle followed by rate increases shortly thereafter.(3) Arm Holdings soared again on Monday, extending a three-day rally that has driven its value up almost 100%, after a blockbuster earnings report last week showed artificial intelligence spending is bolstering sales.(4) Regulatory reforms since the 2008 financial crisis cannot be blamed for the sharp discount in UK commercial bank valuations, Bank of England Governor Andrew Bailey said.(5) Britain isn't building enough homes and the shortage is about to get even worse. That's based on calculations by Bloomberg News of government population data and homebuilding targets from the biggest political parties, which suggests a shortfall of almost 100,000 homes a year over the next parliament when including pent up demand from years of missed targets. See omnystudio.com/listener for privacy information.

Bank Of England Governor Andrew Bailey speaks in an interview with Bloomberg's Francine Lacqua following the UK's central bank's decision to leave the key interest rate unchanged at 5.25% See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: Apple reported a deepening slump in China during the holiday quarter, even as total iPhone sales were stronger than expected and the company returned to revenue growth. Meta and Amazon reported better-than-expected earnings on Thursday, sending their stock prices soaring by a combined $270 billion Bank of England Governor Andrew Bailey has put the British central bank on a clear path to rate cuts. He also gave investors a few reasons to think the journey for policy makers in London may take longer than for those in Washington and Frankfurt. New York Community Bancorp tumbled for a second straight day as Wall Street downgrades piled up. Regional bank peers slumped as well, with a closely watched index extending its two-day drop to 8%, the most since the sector's tumult in March roiled financial markets. President Joe Biden is making no secret of his intentions for multiple attacks on an Iran-backed group that killed three US soldiers last week, a strategy that's exposed him to criticism he's giving up the element of surprise. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Hamas chief Ismail Haniyeh said his group is close to reaching a "truce agreement" in talks with Qatar and Israel, rare public comments that suggest discussions over freeing some hostages held by the militant group are progressing. (2) According to a memo seen by Bloomberg, OpenAI is once again in active discussions to reunifying the company and bring back their ousted CEO Sam Altman. (3) Bank of England Governor Andrew Bailey warned the central bank may have to raise interest rates again and that food and energy costs remain an upside risk to the inflation outlook. (4) The shock that rippled through global housing markets as central banks rapidly raised interest rates last year has given way to a cold new reality: The real estate bonanza that fueled wealth for millions of people is over. (5) France is at risk of flouting the European Union's fiscal guidance while Germany and Italy are deemed not fully compliant, according to people familiar with the matter.  See omnystudio.com/listener for privacy information.

On today's podcast:1) Sam Bankman-Fried has been convicted of a massive fraud that led to the collapse of his FTX exchange. 2) US Secretary of State Antony Blinken lands in Tel Aviv for talks with Prime Minister Benjamin Netanyahu and his War Cabinet as Israeli troops encircle Gaza City, insisting a cease-fire isn't on the table.3) Bank of England Governor Andrew Bailey speaks to Bloomberg. He may insist that it is “much too early to be thinking about rate cuts,” but the financial markets have other ideas. 4) Apple's disappointing holiday-quarter outlook has cast a spotlight on its mounting problems in China.5) Transport services across the UK, France and the Netherlands are facing disruption due to high winds and heavy rain from Storm Ciarán. See omnystudio.com/listener for privacy information.

Bank of England Governor Andrew Bailey discusses the market reaction to the bank's latest decision. He speaks with Bloomberg's Guy Johnson.See omnystudio.com/listener for privacy information.

Amazon posts a blowout quarter, beating on both the top and bottom lines as cost cutting efforts help the company deliver its biggest earnings beat since early 2021. The shine comes out of Apple with shares dropping in extended trade as the iPhone-maker grapples with declining sales of its consumer devices. Treasury yields break higher with U.S. bonds shedding nearly all their gains for 2023, as investors brace for the latest Non-Farm Payrolls report for clues on the Fed's next move. Meanwhile, Bank of England Governor Andrew Bailey tells CNBC the fight against inflation is far from over - and that the central bank will make its decisions as the data comes in. And finally, crude prices are on track for their 6th straight week of gains for the first time in more than a year, as Saudi Arabia extends output cuts into September.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Carl Quintanilla, David Faber and Mike Santoli led off the show with Nvidia and other semiconductor stocks under pressure -- after The Wall Street Journal reported the Biden Administration is considering new restrictions on exports of AIchips to China.Top central bankers also in the spotlight: CNBC's Sara Eisen moderated a panel discussion at the ECB Forum in Portugal, including Fed Chair Jerome Powell, ECB President Christine Lagarde, Band of England Governor Andrew Bailey and Bank of Japan Governor Kazuo Ueda. Also in focus: General Mills slumps on its sales miss and outlook, a "Faber Report" on the FTC vs. Microsoft-Activision -- the CEOs of both companies expected to testify in court Wednesday. Squawk on the Street Disclaimer

Australia's inflation rate fell faster than expected on an annual basis in May to a rise of 5.6% in the year to May 2023, below the expected rise of 6.1% and well below April's annual increase of 6.8%, in a major sign the RBA's rate hikes are having a strong impact in cooling inflation down under. The most significant price rises were Housing (+8.4%), Food and non-alcoholic beverages (+7.9%), and Furnishings, household equipment and services group (+6%). Offsetting the rise in CPI for the year to May 2023 was Automotive fuel prices dropping 8%, which is a significant decline on the April reading of +9.5%.The local market responded very positively to the release of the CPI data with the ASX200 closing the midweek session up 1.10% led by a 2.14% surge in consumer discretionary stocks, a sector that has been beaten down in recent times due to higher interest rates restricting consumer spend on discretionary goods.Over in New York on Wednesday, it was a mixed session as investors responded to comments made by Federal Reserve Chair Jerome Powell regarding the need for further tightening of monetary policy. Powell said on Wednesday that “more restrictive policy is still to come” as inflation remains above the target of 2%.On Wednesday, the Dow Jones closed Wednesday's session down 0.22%, the S&P500 fell just 0.04%, and the tech-heavy Nasdaq rose 0.27%.Over in Europe, markets closed higher on Wednesday as investors in the region closely monitored further comments made by central bankers and officials at the European Central Banking conference in Portugal. Bank of England Governor Andrew Bailey defended the Bank of England's decision to hike rates by 50 basis points last week, while the overall message from the conference remained focused on “higher for longer”.The STOXX600 rose 0.7%, Germany's DAX rose 0.64%, the French CAC added almost 1%, and, in the UK, the FTSE100 rose 0.52%.What to watch today:Ahead of the local trading session the SPI futures are anticipating the ASX to open 0.07% lower following a weaker session on Wall St overnight.On the commodities front this morning, oil has rebounded to trade 2.75% higher at US$69.56/barrel, coal is up 1.91% at US$127.90/tonne, gold is down 0.32% at US$1907.23/ounce and iron ore is up 2.67% at US$115.50/tonne.Japan's consumer confidence data for June is out this afternoon, with consensus expecting a rise of 0.2 points to 36.2 as the economy continues recovering from pandemic-related disruptions.AU$1.00 is buying US$0.66, 95.31 Japanese Yen, 52.48 British Pence and NZ$1.09.Stocks trading ex-dividend today include Stockland, Transurban Group, APA Group and GPT Group. Trading Ideas:Bell Potter has initiated coverage of CSR (ASX:CSR) with a Hold rating and a price target of $5.60 noting the diversified manufacturing company boasts sector leading performance with operations in building products, aluminium and property development. The hold rating is due to CSR's addressable backlog of work from Homebuilder nearing conclusion signalling the Building Products division of CSR approaches the backend of its pricing cycle. Bell Potter is attracted to the long-term market share opportunity for Hebel in Australia and tailwinds supporting CSR's property portfolio.And Bell Potter has increased the price target on PointsBet (ASX:PBH) from $2 to $2.25 and maintain a speculative buy rating on the sports betting company after the announcement that Fanatics Betting and Gaming has increased its offer for PointsBet's US business from US$150m to $225m in cash. DraftKings was in the running to buy the American operations however failed to finalise a binding offer by 6pm on Tuesday so the PointsBet board is recommending the increased Fanatics offer given its superiority in both terms of pricing and certainty.

Political interviews have the power to shape the future of a government. So what makes an exceptional exchange? Rob Burley has written a book about his decades of experience running political programming at the BBC and now Sky News, and he shares some behind-the-scenes insights. There's less talking happening between unions and employers on pay disputes though, our reporter Asad Zulfiqar tells us, as another 48-hours of strikes hit train services. Plus, we unpack the Bank of England Governor Andrew Bailey's interview with Bloomberg, and bring you reaction from Shadow Chancellor Rachel Reeves. Hosted by Lizzy Burden, Caroline Hepker and Stephen Carroll.See omnystudio.com/listener for privacy information.

In this episode of the Treasury Tomorrow podcast, Nick Pedersen, NatWest Market's Global Head of Digital, joins payments expert Lee McNabb, digital capital markets specialist Phil Stewart, and NatWest treasury's manager of liquidity portfolio management Oliver Butcher for a thought-provoking debate on how digital assets could transform treasury.NB: This was recorded on 14 April 2023. For a copy of the Bank of England's discussion paper on the digital pound, click here: https://www.bankofengland.co.uk/paper/2023/the-digital-pound-consultation-paperFor more information on the UK Jurisdiction Taskforce (UKJT) February 2023 statement on the legal treatment of digital assets under English private law, click here: https://www.lexology.com/library/detail.aspx?g=996fd584-ef06-4fd0-9b2d-c8c7b87144a2For a copy of Bank of England Governor Andrew Bailey's speech at the IIF conference in Washington, DC on 12 April, click here: https://www.bankofengland.co.uk/speech/2023/april/andrew-bailey-remarks-at-the-institute-of-international-financeFor any terms used please refer to this glossary: https://www.natwest.com/corporates/insights/markets/glossary.html Please view our full disclaimer here: https://www.natwest.com/corporates/disclaimer.html

Bank of England Governor Andrew Bailey speaking at the IMF last Friday, played down the risk of further disruption to the UK banking sector. Turmoil created by the collapse of two U.S. regional banks and the issues that led to Credit Suisse having to accept a forced takeover by Union Bank of Switzerland, Bailey is fading, and believes that the reforms that have taken place since 2008 have reinforced the sector. However, he still acknowledged the risk inherent in the overall financial sector due to the growth of non-bank institutions such as hedge funds and pension companies. He believes that there will need to be fresh legislation brought in by the Financial Conduct Authority and approved by the Government in order to better control their affairs. Bailey acknowledged that this is a difficult path to negotiate since these funds contribute a significant amount to the UK economy in tax. Last week, Sterling continued its recent rise against a weakening dollar. The overall situation created by G7 Central Banks considering bringing to an end their recent cycles of tiger monetary policy is the overriding driver of the currency market currently. Beyond Currency Market Commentary: Aims to provide deep insights into the political and economic events worldwide that can cause currencies to change and how this can affect your FX Exposure.

Bank of England Governor Andrew Bailey remains unconvincing in his commitment to bring inflation under control, as he appears more concerned to avoid being accused of tipping the country into a recession that may be difficult to escape. Despite the Central bank having hiked rates at every Monetary Policy Committee meeting since December 2021, Bailey has been lukewarm in his determination, appearing to place more emphasis on avoiding the economy contracting. With inflation beginning to fall as energy prices, at least, continue to fall, and some stability is being seen at lower levels, Bailey won't continue to sanction higher short-term rates for a moment longer than is necessary. He is able to call on the support of his colleague from the Bank at MPC meetings, but the three independent members have very different views on what needs to be done. Catherine Mann has voted for larger rate increases at the last three meetings, while Silvana Tenreyro believes that economic growth should be more protected by taking a breather and pausing rate hikes. Beyond Currency Market Commentary: Aims to provide deep insights into the political and economic events worldwide that can cause currencies to change and how this can affect your FX Exposure.

After speaking to Bloomberg, Bank of England Governor Andrew Bailey gave some snappy answers on yesterday's interest rate rise to the Sun newspaper. We asked our Chief Europe Economist Jamie Rush to break down what Bailey said about the economy, but also how he said it. Plus: Gideon Skinner from polling company Ipsos tells Bloomberg's Caroline Hepker and Stephen Carroll about how the strikes are weighing on public opinion.See omnystudio.com/listener for privacy information.

Hosts Guy Johnson and Alix Steel speak with Bloomberg's David Goodman and Marcus Ashworth on the Bank of England, Gina Martin Adams on the markets, and Michael McKee on the Fed. Plus, they hear from Bank of England Governor Andrew Bailey and Vestas CEO Henrik Andersen.

A busy end to the week, as UK Prime Minister Liz Truss sacked her Chancellor Kwasi Kwarteng and announced another U-turn in her government's tax cut plan. Find out exactly what happened and how markets reacted to the latest news. We also tie in the latest developments in the UK bond market after Bank of England Governor Andrew Bailey told pension funds “You have three days to get out". A brave move or asking for trouble?Finally, Thursday marked one of the largest intraday reversals in the US stock market on record. The initial move lower came after US Core CPI printed at a new 40-year high, but why did we rebound so quickly? Piers explains why the devil is always in detail!US earnings for your bank applications https://www.linkedin.com/posts/anthonycheung10_students-careers-applications-activity-6986660014237097984-4Xl0?utm_source=share&utm_medium=member_desktopFree daily newsletter https://amplifyme.com/market-makerFree Finance Accelerator simulation https://amplifyme.com/course/finance-acceleratorConnect with Anthony https://www.linkedin.com/in/anthonycheung10/Connect with Piers https://www.linkedin.com/in/pierscurran/ Hosted on Acast. See acast.com/privacy for more information.

Bank of England Governor Andrew Bailey confirms bond innervation will end Friday - Andy Verity assesses how the world of business will react to the news.

“I've never heard a central banker basically threaten the market.” Bob Iaccino breaks down the hotter than expected PPI print, as well as his thoughts on recent remarks made by the Bank of England Governor Andrew Bailey. Bob explains how PPI has gained in importance as strategist around the world are attempting to map out Fed policy. Although the number came in higher than expected, he said it does not give him enough to speculate on Thursday's CPI print.

Bank of England Governor Andrew Bailey spoke yesterday of the turmoil that the Government's new policies have brought to the gilts market and confirmed that additional support provided by the Central Bank must end this Friday. The fear that pension funds will begin a fire sale of UK government assets, driving long term interest rates higher, could complete the total breakdown of the market's confidence in the Treasury. The Governor went on to say that any intervention in markets is simply to stabilize the situation, and market users cannot become reliant on official support. Therefore, any action taken by the Bank of England will be temporary and must end on Friday. There is a clear fracture between the fiscal actions of the Treasury and the monetary actions of the Bank of England. The Office for Budget Responsibility in a preliminary report that will be fleshed out on 31st October spoke of its expectation that it will take around sixty billion pounds worth of reduction in Government spending to balance the books. The Prime Minister appears to have again been forced into a U-turn by Conservative backbenchers. In April, then Prime Minister Boris Johnson pledged to increase certain benefits in line with inflation. Truss was asked about this when she took up the role, and she refused to commit to Johnson's promise.

Bank of England Governor Andrew Bailey, making his quarterly report to MPs yesterday, said that there is nothing that the Central Bank can do to avoid the country slipping into recession in the fourth quarter of this year and not seeing any growth in 2023. He claimed that it is not the Bank of England's monetary policy decisions that have created the crisis, but Russian President Vladimir Putin's invasion of Ukraine which has driven up the price of basic foodstuffs together with his actions over energy supply. While the UK isn't dependent on Russian gas to the same extent as, say, Germany, the economy is still energy dependent. The new Prime Minister, Liz Truss, will today flesh out the Government's plans to deal with the rising cost of energy. It is expected that the energy cap will be frozen and around £2,500 for the next eighteen months for domestic suppliers. Little has been said about businesses, whose energy bills have risen by a multiple of three or even four over the past year.

Bank of England Governor Andrew Bailey, speaking at a dinner on Monday evening, gave the clearest indication yet of the Bank's intention to hike interest rates by fifty basis points at its next meeting, which will take place on August 4th. This will be the biggest move in twenty-seven years, but Bailey is determined to show how serious he is in trying to bring inflation back to the Government's two percent target. He believes that it is the absolute priority to bring it under control, and that this is the largest challenge since the Bank was granted independence by then Chancellor of the Exchequer, Gordon Brown. The bank is facing the same dilemma as the ECB and to a certain extent the FOMC. While raising rates will quell demand, which is the traditional manner in which Inflation is tackled, it is only in the supply side of the economy that headline inflation is being mostly seen. Beyond Currency Market Commentary: Aims to provide deep insights into the political and economic events worldwide that can cause currencies to change and how this can affect your FX Exposure.

Dispirited by pandemic lockdowns and a massive real estate crisis, today's young Chinese workers are dreaming less about becoming super-rich entrepreneurs and more about the workaday lives of bureaucrats. Their new distaste for private-sector jobs has caught the attention of the ruling Chinese Communist Party, which is trying to change opinions and recruit for private-sector manufacturing jobs that are going begging. In this week's episode of “Stephanomics,” reporter Tom Hancock discusses the unrest brewing among China's youth. Many have newly minted degrees and a growing number have embraced anti-capitalist idealism, exacerbating a mismatch between the jobs that are available and the jobs they actually want. Meantime, younger workers see the country's state-owned enterprises as more stable than privately-owned ones amid Covid-19 outbreaks and lockdowns, creating intense competition for public-sector jobs. The upshot is the jobless rate among China's youth is likely to hit 20%, which has alarmed President Xi Jinping's government. Host Stephanie Flanders talks to Bloomberg Chief Economist Tom Orlik about the outlook for the world's biggest country. He says China likely has been overstating its growth for years, giving critics reason to question how big its economy actually is right now. But China's leadership has proven it can develop that economy, and “it would be a big mistake for us to underestimate how big they will likely become in the next 10 or 20 years,” Orlik says. And, Flanders also talks worker wages with Rachel Reeves, who as the UK's Shadow Chancellor of the Exchequer is the chief economic voice of the opposition Labour Party. It's a risky topic to address since Bank of England Governor Andrew Bailey got lambasted last winter for suggesting workers forgo seeking pay raises because they might be inflationary. Reeves wouldn't say what a reasonable increase for workers would be, given ongoing discussions over pay by UK authorities, but suggested the trick to giving everyone a raise is boosting the economy.  See omnystudio.com/listener for privacy information.

The Bank of England has warned that the UK economy will shrink this year as it raises interest rates to try to stem the pace of rising prices. Base rates were hiked to 1% from 0.75% (50% higher), their highest level since 2009 and the fourth consecutive increase since December. With fuel, energy and food costs soaring partly due to the Ukraine war, inflation is now at a 30-year high and will reach 10% by the end of the year, according to Bank of England Governor Andrew Bailey.  Ordinary people are starting to rein in spending which is hitting growth. Will higher interest rates curb inflation? Higher interest rates make it more expensive for consumers and businesses to borrow, leading to lower spending and demand. People start spending less, demand for goods and services cool slowing the pace of price rises. However, there are some economists who think that that increases in interest rates may have little effect in a situation of rising global oil and gas prices. The Bank of England's Monetary Policy Committee (MPC) said the UK economy is expected to contract in the final three months of this year. It is also expected to shrink by 0.25% in 2023, down from the Bank's previous forecast of 1.25% growth. The MPC has also slashed its growth outlook for 2024 to 0.25%, down from 1%. Bank of England governor Andrew Bailey said the UK was set for "a very sharp slowdown" but declined to call it a recession. A majority of six members of the Bank's MPC voted to lift interest rates to 1% but the remaining three members wanted a steeper rise to 1.25%. The Bank now expects inflation to hit 9% in the coming months - up from its previous forecast of 8% - and to reach 10.25% by the end of the year. Fed raise rates by highest in 22 years The US central bank has announced its biggest interest rate increase in more than two decades as it toughens its fight against fast rising prices. The Federal Reserve said it was lifting its benchmark interest rate by half a percentage point, to a range of 0.75% to 1% after a smaller rise in March. With US inflation at a 40-year high, further hikes are expected. Last year, the Fed and BOE claimed that inflation was transitory and temporary. Stock markets around the world ended the week in the red with the Nasdaq falling 5% on Thursday, the largest fall in two decades. To help you get through this and come out stronger at the other end I am offering subscribers a free MONEY MASTERCLASS.  Join me for an intimate Money Masterclass this Wednesday The NEW WAY to build your wealth, IMMEDIATELY GET CONTROL of your money and learn how you can become FINANCIALLY FREE in 28 days using my S.M.A.R.T MONEY FORMULA! With inflation at a 30-year high there has never been a better time to join me for this brand new Money Masterclass! I am inviting a small group of people only to join me this WEDNESDAY 7PM for an intimate S.M.A.R.T Money Masterclass! >>> REGISTER HERE - https://contexttraining.aweb.page/p/101d6194-4fe4-4036-8cc8-615ecc35f857 Secure your seat now! See omnystudio.com/listener for privacy information.

The Bank of England raised interest rates for the fourth consecutive time at its meeting which concluded yesterday. The base rate now stands at one per cent, its highest level since 2009. Bank of England Governor Andrew Bailey spoke in his post meeting press conference of his belief that inflation will reach a peak of 10% in the summer. Bailey also warned of a major slowdown in the economy, made worse by the continued conflict in Ukraine and the prospect of further rises in the price of energy as the cap is raised further in the Autumn. Bailey believes that there is a narrow path to be negotiated between high and rising inflation and a potential recession. Most observers will see that path narrowing almost by the day. The continued effect of lockdowns in China on supply chains is also a contributing factor to the slowing economy. Beyond Currency Market Commentary: Aims to provide deep insights into the political and economic events worldwide that can cause currencies to change and how this can affect your FX Exposure.

Hosts Guy Johnson and Marcus Ashworth discuss the Fed hike and remarks from Jerome Powell with Bloomberg Senior US Economist Yelena Shulyatyeva, hear from Bank of England Governor Andrew Bailey, talk OPEC with Bloomberg Intelligence Commodity Strategist Mike McGlone, and hear from Uber's CEO Dara Khosrowshahi.

Interest rates rise as Bank of England warn of recession and 10% inflation The Bank of England has warned that the UK economy will shrink this year as it raises interest rates to try to stem the pace of rising prices. Base rates were hiked to 1% from 0.75% (50% higher), their highest level since 2009 and the fourth consecutive increase since December. With fuel, energy and food costs soaring partly due to the Ukraine war, inflation is now at a 30-year high and will reach 10% by the end of the year, according to Bank of England Governor Andrew Bailey. Ordinary people are starting to rein in spending which is hitting growth. Watch video version – Click here https://youtu.be/ccHYLfMXBwA Will higher interest rates curb inflation? Higher interest rates make it more expensive for consumers and businesses to borrow, leading to lower spending and demand. People start spending less, demand for goods and services cool slowing the pace of price rises. However, there are some economists who think that that increases in interest rates may have little effect in a situation of rising global oil and gas prices. The Bank of England's Monetary Policy Committee (MPC) said the UK economy is expected to contract in the final three months of this year. It is also expected to shrink by 0.25% in 2023, down from the Bank's previous forecast of 1.25% growth. The MPC has also slashed its growth outlook for 2024 to 0.25%, down from 1%. Bank of England governor Andrew Bailey said the UK was set for "a very sharp slowdown" but declined to call it a recession. A majority of six members of the Bank's MPC voted to lift interest rates to 1% but the remaining three members wanted a steeper rise to 1.25%. The Bank now expects inflation to hit 9% in the coming months - up from its previous forecast of 8% - and to reach 10.25% by the end of the year. Fed raise rates by highest in 22 years The US central bank has announced its biggest interest rate increase in more than two decades as it toughens its fight against fast rising prices. The Federal Reserve said it was lifting its benchmark interest rate by half a percentage point, to a range of 0.75% to 1% after a smaller rise in March. With US inflation at a 40-year high, further hikes are expected. Last year, the Fed and BOE claimed that inflation was transitory and temporary. Stock markets around the world ended the week in the red with the Nasdaq falling 5% on Thursday, the largest fall in two decades. To help you get through this and come out stronger at the other end I am offering subscribers a free MONEY MASTERCLASS. Join me for an intimate Money Masterclass this Wednesday The NEW WAY to build your wealth, IMMEDIATELY GET CONTROL of your money and learn how you can become FINANCIALLY FREE in 28 days using my S.M.A.R.T MONEY FORMULA! With inflation at a 30-year high there has never been a better time to join me for this brand new Money Masterclass! I am inviting a small group of people only to join me this WEDNESDAY 7PM for an intimate S.M.A.R.T Money Masterclass! >>> REGISTER HERE - https://contexttraining.aweb.page/p/101d6194-4fe4-4036-8cc8-615ecc35f857 Secure your seat now!

Bank of England Governor Andrew Bailey, when questioned about when the Bank would begin to wind down its support for the economy by divesting itself of Government Bonds that were purchased in order to add liquidity to the market during the Pandemic, answered that he imagined it would start when interest rates reached 1%. Bailey has developed a habit of answering questions about long-term issues without giving them due consideration, and often pre-empting the opinions of his colleagues on the MPC. While the opinion of the Governor carries significant weight, the Monetary Policy Committee comprises nine individuals and each vote carries the same weight. Popular opinion suggests that the mood of the MPC is sufficiently hawkish for them to agree to a further rate hike at next week's meeting, despite clear evidence of a slowing economy. If the hike takes place, the rate will reach 1% and questions will be asked about the expected reduction in the size of the bank's balance sheet. Beyond Currency Market Commentary: Aims to provide deep insights into the political and economic events worldwide that can cause currencies to change and how this can affect your FX Exposure.

This week, UK Chancellor Rishi Sunak tweeted about payment regulation reform recognizing crypto stablecoins as a valid payment in the UK. In the same post, Sunak also linked a gov.uk page detailing other steps the government is taking to turn the UK into a “cryptoasset technology hub.” This includes: Legislating for a financial sandbox called “CryptoSprint,” which would be overseen by the Financial Conduct Authority (FCA). Developing a “Cryptoasset Engagement Group” as an interface between industry and government. Examining tax reforms that encourage competitiveness. Commemorating this new approach to digital assets by way of a specially commissioned NFT in conjunction with the Royal Mint. Given the uneasy relationship between the UK and crypto to date, the skeptical among you will wonder what's going on. The UK is looking to crypto to regain a footing UK officials have generally taken a hostile stance towards crypto in the past. For example, as recently as December 2021, the Bank of England Governor Andrew Bailey reiterated comments that cryptocurrencies do not meet the definition of a currency, have no intrinsic value, and warned that investors could lose all their money. Addressing the Financial Policy Committee at that time, Bailey played down the significance of digital assets, saying they aren't a risk today but could be in the future. “It probably isn't a financial stability risk today but it has all the makings of something that could become one.” Then there's the FCA, which has been accused of taking a draconian approach in dealing with Binance as it seeks to register with authorities. The FCA said its approach corresponded with Binance's failure to respond to basic queries. However, in an apparent turnaround, Chancellor Sunak is now signaling a pro-crypto stance. He said the efforts are part of a plan to keep the UK financial industry “at the forefront of technology and innovation.” What's more, Chancellor Sunak also spoke about attracting businesses and jobs through this policy change. “We want to see the businesses of tomorrow – and the jobs they create – here in the UK, and by regulating effectively we can give them the confidence they need to think and invest long-term.” The EU is closing its doors The UK financial services sector brought in £165 billion ($215.7 billion) in 2020, accounting for 9% of the country's total economic output. The City of London is traditionally seen as one of the world's leading financial centers. But leaving the EU on January 31, 2020, meant losing jobs and businesses to competing centers. While the UK government acknowledged this, it also diminished the effect by saying the impact may not be as significant as initially thought. “The data so far suggests that jobs and business has been lost to other financial centres as a result of the UK leaving the European single market, but the impact may not be as big as initially feared by some.” Nonetheless, Patrick Hansen, the Head of Strategy & Business Development at Unstoppable Finance, recently commented that this change from the UK government directly responds to anti-crypto sentiment coming from the EU. He thinks the UK “wants to outplay” the EU and scoop up all the capital flight that's set to leave the region should proposals on unhosted crypto wallets get ratified in law. With Brexit, the EU lost its biggest financial hub, the city of London. Seems like the UK wants to outplay the EU with regards to crypto too. The timing of this, just a few days after heavy public backlash against an EU vote on crypto, is certainly not a coincidence.. Patrick Hansen (@paddi_hansen) April 4, 2022

Unfortunately, the term "stablecoin" is a misnomer in this case. The fact that stablecoins are tied to a "real" asset does not imply that they are stable. Traditional underlying assets are not immune to market fluctuations, and the majority of stablecoins are pegged to fiat, making them just as volatile.  What the name could be, however, is lofty – something that stablecoins could still live up to if they can establish a solid foundation.  What happened to all of the stability?  Stability is the currency of the day, at the risk of conflating metaphors. Following the COVID-19 pandemic and ongoing supply chain problems, markets are volatile, debt levels are high, and inflation is skyrocketing. As investors sought alternative wealth storage, cryptocurrency markets benefited. Prices, on the other hand, continue to fluctuate erratically.  In search of a solution to volatility, the crypto community has turned to stablecoins for the perceived stability provided by their fixed relative valuation. According to a recent report from the Hong Kong Monetary Authority (HKMA), the stablecoin market has grown explosively in terms of market capitalisation since 2020. Payments companies are also jumping on board, with PayPal recently announcing plans to launch its own PayPal Coin, backed by the US dollar.  That is the crux of the issue. Stablecoins are typically backed by fiat currencies that are becoming increasingly unstable. Governments have printed $17 trillion in new money into the global economy as part of widespread quantitative easing, increasing global debt levels while devaluing currencies that back stablecoins.  As a result, while the growing trend towards stablecoins is a step in the right direction, it needs to be reconsidered if it is to live up to its name.  A gold-plated solution  We can't afford to ignore the potential of stablecoins backed by truly stable assets as governments print more and more fiat. To deliver on the promise of "stability," stablecoins must be accompanied by a broader, more mainstream shift away from supporting inflation-prone fiat currencies and towards more reliable physical assets.  The most obvious choice is gold. Despite the turmoil that 2021 has brought, the price of gold has remained consistent between $1,700 and $1,950 per ounce, demonstrating both its stability and value.  However, tying a coin to a fictitious gold reserve is not sufficient. The underlying asset must be fully allocated and redeemable – one gramme of gold for one token, for example. This keeps the coin from deviating from the reality of the asset it represents, as well as from contributing to debt growth.  If the owner of a stablecoin can directly redeem the asset, it can serve as an effective store of value and medium of exchange, far exceeding the capabilities of modern monetary systems.  Calls for increased regulatory oversight have been re-issued.  Such a currency would be possible only in a fully audited system, emphasising the significance of regulation. Ironically, a massive migration to stablecoins based on a somewhat erroneous assumption of stability could be the straw that breaks Jenga's economic tower.  The recent controversy surrounding Tether (USDT), the most widely used and US dollar-backed stablecoin, allegedly not having the dollars to back their coin, has been dismissed by the company and remains unverifiable because it is essentially unregulated and unaudited.  The disclosure adds to the growing list of concerns about stablecoin "stability" and what is being done to protect investors.  Global regulators must continue to provide greater oversight and increase transparency. Indeed, Bank of England Governor Andrew Bailey made his own statement at Davos a year ago, warning that crypto lacked "design governance and arrangements for a sustainable digital currency" and that "people need the assurance that their payments are being made into something with stable value."  A way out of the inflationary quagmire  Regardless of their flaws, stablecoins have the potential to help us get out of a post-COVID-19 inflation crisis. They have the ability to preserve wealth and provide a stable store of value while offering traditional investors greater certainty than other digital assets.  As a result, eradicating the stablecoin myth may be critical to our economic survival.  To fully benefit from them, they must be tied to a solid foundation in the form of a fully redeemable physical asset, such as gold or silver. This would result in a virtuous circle of stability, with increased institutional support for digital assets and further stabilisation of the market and economy.  Because of the volatility of cryptocurrency, many businesses, both large and small, are hesitant to use it as a payment method. Stablecoins may hold part of the answer, but their "stability" is far from inherent. Gold and silver, on the other hand, will continue to provide solid foundations for years to come.   Support us!

"Bank of England Governor Andrew Bailey has been blamed for worsening the rise in inflation in the UK by Gerard Lyons, a former economic adviser to Gordon Brown and more recently Boris Johnson. Lyons believes that the Bank's failure to act before December in hiking interest rates has set back the recovery from the Pandemic, but, more importantly, placed the country in danger of falling into recession in trying to play catchup. The rise in the wholesale cost of gas, driven primarily by the Pandemic coupled with the forthcoming rise in national insurance contributions, has placed the country in danger of slipping into recession. Lyons also took aim at the Bank of England's forecasting of the rise in inflation, which he says has constantly downplayed the seriousness of the situation. It appears that forecasts have been moulded to fit the shape of the MPC's predictions, rather than the other way around. Bailey's communication with the markets has been ineffective. This has led to accusations of misleading them over a November rate hike. " Beyond Currency Market Commentary: Aims to provide deep insights into the political and economic events worldwide that can cause currencies to change and how this can affect your FX Exposure.

"The number of people claiming unemployment benefit in the UK fell to 31.9K in January, but the number for December was revised up from 43.3k to 51.6k. The actual number of people claiming benefits is not as important as the trend, which continues to show a degree of tightness in the labour market. Wages are beginning to pick up but are still well below the rate of inflation. That will have pleased Bank of England Governor Andrew Bailey, but it is expected that demands for greater increases, at least in line with inflation, will begin to be demanded. Annual pay hit 4.3% in January, but vacancies are still at a record high. Bonus payments in the finance, insurance and property sectors boosted wages. The rate at which salaries are lagging inflation is now at its highest level since 2014.Real wages, salaries adjusted to consider inflation fell by 0.1%. " Beyond Currency Market Commentary: Aims to provide deep insights into the political and economic events worldwide that can cause currencies to change and how this can affect your FX Exposure.

"Bank of England Governor Andrew Bailey has suffered from the exposure he has received as Central Banks return to the forefront of economic decision-making. The post financial crisis period saw Central Banks move into the background as interest rates fell and inflation appeared to have been beaten. That entire period of the cycle was ended by the Coronavirus Pandemic and the monetary and fiscal support that was needed to protect the economy from lasting damage. Prior to the pandemic, many members of the public would have been hard-pressed to identify Bailey, such was his lack of publicity. That has changed gradually, culminating first with his being accused of misleading markets over the possibility of a rate hike last November when he badly misjudged the mood of his Monetary Policy Committee. " Beyond Currency Market Commentary: Aims to provide deep insights into the political and economic events worldwide that can cause currencies to change and how this can affect your FX Exposure.

"Tackling inflation remains the number one priority for the Bank of England's Monetary Policy Committee, since it was forced to accept that rising prices were unlikely to return to the Bank's 2% target without changes to monetary policy. Bank of England Governor Andrew Bailey was one of several central bankers who jumped on the bandwagon of labelling rising inflation as transitory and that it would return to acceptable levels once the logjam in supply chains had abated. The continued rise in the wholesale price of gas, exacerbated by tensions around Russia's border with Ukraine, and global shortages of microchips have been major contributors to rising inflation. This week, the MPC will have a decision to make that was expected to be relatively easy before the New Year. Rate hikes at consecutive meetings were, and in many; observer's minds, remain the likely outcome of the meeting on Thursday. This would be the first time in eighteen years that the Bank of England has hiked at consecutive meetings. However, various headwinds are growing that could easily blow the nascent recovery off course. " Beyond Currency Market Commentary: Aims to provide deep insights into the political and economic events worldwide that can cause currencies to change and how this can affect your FX Exposure.

"Bank of England Governor Andrew Bailey expressed his concern yesterday about the pace at which inflation continues to rise. Having already hiked interest rates once, at its meeting in December, the Monetary Policy Committee is expected to agree to three more hikes throughout 2022. Bailey has two main concerns; first he is worried that energy prices continue to rise, the wholesale price of gas has quadrupled in the past year, and inflation concerns being expressed in wage negotiations. For now, wage rises are both manageable and fairly limited, but that is certain to change as Trades Unions begin to try to ensure that the pace of wage rises for their members keeps up with rising prices. In evidence to the Treasury select Committee, Bailey warned that it could easily be the second half of next year before energy prices start to ease back, " Beyond Currency Market Commentary: Aims to provide deep insights into the political and economic events worldwide that can cause currencies to change and how this can affect your FX Exposure.

"Bank of England Governor Andrew Bailey is being coy about what will happen at next week's MPC meeting. This is firstly due to the fact that he was accused of misleading markets in the run-up to the most recent meeting and more importantly, not only is he unable to gauge the mood of his colleagues, but he is unsure of his own vote. There are merits to trying to take back control of inflation by raising interest rates, a move that would signal the end of historically dovish monetary policy but could see several areas of the economy suffer. Equity markets would most likely correct, the property market would experience a significant slowdown, although it has weathered the withdrawal of Government support well. Should the logistics issues and shortages continue well into the first quarter, such a move may now be considered premature. Prime Minister Boris Johnson is facing further pressure from within his own Party over revelations about last year's Downing Street Festivities while the country was in full lockdown. The critical issue of whether he knew what went on under his own roof remains unclear. " Beyond Currency Market Commentary: Aims to provide deep insights into the political and economic events worldwide that can cause currencies to change and how this can affect your FX Exposure.

"Bank of England Governor Andrew Bailey has told the market that the Central Bank may not go back to providing hard guidance. Bailey was clearly stung by the criticism he received following the most recent meeting of the MPC. He was accused of misleading the market by providing heavy hints that there would be a rate increase, only for the committee to vote 7-2 against raising rates. It is hard to imagine what Bailey would gain from such a ruse and while he is the Governor, he is one of nine members who each have a view. Their independence is guaranteed by the fact that alongside the members of the bank's senior management, there are four external members. One of those external members, Jonathan Haskell, spoke yesterday of his view that a hike will become necessary if the labour market remains tight. In order for inflation to be controlled, higher wages will need to be matched by a commensurate increase in productivity, so the MPC will need to remain vigilant. He went on to say that the path for interest rates is undoubtedly upwards, although he believes a rise in rates should be viewed as a symptom of economic recovery and not a panic move to control rising prices. " Beyond Currency Market Commentary: Aims to provide deep insights into the political and economic events worldwide that can cause currencies to change and how this can affect your FX Exposure.

In this episode, I talk to Amplify co-founder and Head of Trading Piers Curran about the communication failure from Bank of England Governor Andrew Bailey and its impact on the Bank's credibility. We also look at Jerome Powell's performance after announcing tapering and discuss the real prospect of the Democrats losing both the Senate and the House at next year's mid-terms as Joe Biden's approval rating remains one of the worst in history.Finally, we can't go an episode without talking about Tesla! Discussing why the share price is rising irrespective of fundamentals, alongside a quick look at the collapse in pandemic winner Peloton this week.Sign up for the Daily Market Maker newsletter www.amplifyme.com/market-maker. See acast.com/privacy for privacy and opt-out information.

Bank of England Governor Andrew Bailey hits back at criticism the central bank mislead markets after the surprise decision to keep rates on hold, telling CNBC the central bank hasn't ever said it would raise rates this month. US jobless claims hit a fresh pandemic-era low, as attention turns to the nonfarm payrolls report, with 450,000 jobs expected to be added. OPEC+ nations dismiss US pressure to turn on the taps - rolling over the August production plan despite a surge in crude prices. And as the first week of COP26 draws to a close in Glasgow, negotiators are cheering progress on cash, coal, methane and trees.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Host Alix Steel and Guy Johnson and speaks with Bank of England Governor Andrew Bailey, Bloomberg Opinion Columnist Marcus Ashworth, Bloomberg Executive Editor for Energy & Commodities Will Kennedy, Bloomberg Government Reporter Emily Wilkins and Bloomberg US Economic Reporter Reade Pickert

"Last week, Bank of England Governor Andrew Bailey jokingly compare the troubles facing the economy with the biblical plague of locusts. As the week wore on, his comment became more prophetic as traders and investors dumped their holdings in Sterling, driving it to new year's lows versus both the dollar and euro. Johnson's Chancellor will be speaking at the Conservative Party Conference, which begins later today in Manchester. It is expected that he will announce a £500 million fund to support the jobs market. Last week, Bank of England Governor Andrew Bailey jokingly compare the troubles facing the economy with the biblical plague of locusts. Sunak is expected to say that the Government plans to begin to reshape the economy following the Pandemic, utilizing the country's strengths in technology and innovation. " Beyond Currency Market Commentary: Aims to provide deep insights into the political and economic events worldwide that can cause currencies to change and how this can affect your FX Exposure.

"The pound has been hit by a perfect storm of negative drivers over the past few days that has seen it plummet against both the dollar and Euro. The market's confidence in the UK's recovery has been shattered by the crisis that has seen wholesale gas prices continue to rise, causing the collapse of several providers. In addition, a continuing shortage of HGV drivers has led to scenes not seen for many years of drivers queuing to fill their tanks with fuel. Traders are concerned that the UK's recovery from the Pandemic will be blown off course by these new issues, especially since the wider shortage of raw materials and spare parts is still unresolved. The pound has been hit by a perfect storm of negative drivers over the past few days that has seen it plummet against both the dollar and Euro. Bank of England Governor Andrew Bailey is sticking to his mantra concerning inflation. Bailey believes that the rise in inflation in the UK is temporary, although he did acknowledge that the timing of GDP returning to pre-Pandemic levels has been pushed back by a month or two. " Beyond Currency Market Commentary: Aims to provide deep insights into the political and economic events worldwide that can cause currencies to change and how this can affect your FX Exposure.

The S&P 500 hits a new record high on positive U.S. jobs numbers and redundancies fall to a two-decade low. Bank of England Governor Andrew Bailey tells CNBC that policy will be modestly tightened over the next few years as the balance sheet is reinforced to weather any future crises. In the U.S., President Biden signs an executive order calling for at least 50 per cent of all American cars and trucks to be electric by 2030. In South Korea, mobile-only lender Kakaobank has listed to become the country's biggest retail bank. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

"The Bank of England Governor Andrew Bailey is feeling more and more pressure to act to tighten monetary policy in light of rising inflation. He remains stoic in his determination to continue to support the economy, which he considers still to be at risk. He is basing his desire to continue with bond purchase and historically low interest rates around the fact that Government support is slowly being withdrawn and that could have a significant effect on growth. Employers are being expected to contribute more to the furlough scheme, and that will in all likelihood lead to a rise in businesses closing their doors permanently. There has been speculation for some time that without support, many firms are simply not viable. The change in working practices that is seeing many businesses adopt a hybrid policy for working from home versus attending the office will also have a knock-on effect on support businesses. Cafés and coffee shops are the obvious victims, but there is a whole support structure that will see its customer base permanently decimated." Beyond Currency Market Commentary: Aims to provide deep insights into the political and economic events worldwide that can cause currencies to change and how this can affect your FX Exposure.

"Services output rose to its second-highest level in eight years in June. This is the largest part of the economy, making up around 80% of GDP. Bank of England Governor Andrew Bailey in a speech yesterday criticized those sniping at the Bank for not seeming to take inflation seriously. Turning poacher from gamekeeper, Ex-Bank Chief Economist Andrew (call me Andy) Haldane has already found his voice from the private sector, warning that inflation is rising rapidly and could reach 4% this year. It seems you can take the economy away from the economist, but you can' take the economist away from the economy!" Beyond Currency Market Commentary: Aims to provide deep insights into the political and economic events worldwide that can cause currencies to change and how this can affect your FX Exposure.

"This week will see the release of data for inflation and employment. Despite the positivity that has been created by the latest release of the lockdown the number of people who lost their jobs is expected to rise by close to 100k taking the unemployment rate to 5.2%. The data will be released tomorrow. House price data has been released overnight and the Chancellor’s stamp duty holiday continues to drive the market higher. Year on Year house prices across the UK rose by 5.1%. That is significantly higher than last month which saw a rise of 2.7%. The reopening of several sectors of the economy has driven consumers to release a large part of the huge build-up of savings that took place over the past year. Bank of England Governor Andrew Bailey estimates that £150 billion was accumulated and is now returning to the economy. " Beyond Currency Market Commentary: Aims to provide deep insights into the political and economic events worldwide that can cause currencies to change and how this can affect your FX Exposure.

Ethiopian Prime Minister Abiy Ahmed speaks at this week's Great Reset Dialogue, seeking a better, fairer, greener global economy as we rebuild out of the COVID-19 pandemic. Other speakers include: Bank of England Governor Andrew Bailey, RockCreek Founder and CEO Afsaneh Beschloss, Ning Zhu, Professor of Finance, Tsinghua University in Shanghai  and World Economic Forum Managing Director Saadia Zahidi. The host is the Forum's Adrian Monck.

For the past few weeks I have been reporting that two market makers were blown out on the LBMA on March 24th. One of my sources was London silver trader and whistleblower Andrew Maguire, who was kind enough to join me on this show and explain what happened. There's a good chance that in due time this will be looked at as one of the seminal breakpoints, and is another one of the reasons why I think this saga is getting close to its end. In the interview, Andrew also talks about his conversations with Bank of England Governor Andrew Bailey. Whom Maguire spoke with on a repeated basis, and explained how the markets are being manipulated, before Bailey became a governor of the Bank of England. It's some of the bigger recent news in the gold and silver markets, so to understand what's going on, click to watch the interview now!

For the past few weeks I have been reporting that two market makers were blown out on the LBMA on March 24th. One of my sources was London silver trader and whistleblower Andrew Maguire, who was kind enough to join me on this show and explain what happened. There's a good chance that in due time this will be looked at as one of the seminal breakpoints, and is another one of the reasons why I think this saga is getting close to its end. In the interview, Andrew also talks about his conversations with Bank of England Governor Andrew Bailey. Whom Maguire spoke with on a repeated basis, and explained how the markets are being manipulated, before Bailey became a governor of the Bank of England. It's some of the bigger recent news in the gold and silver markets, so to understand what's going on, click to listen to the interview now!

Having been very sceptical about negative interest rates in the U.K. only a week ago, new Bank of England Governor Andrew Bailey seems to be changing his tune. And central banks around the world are also having this same debate.