Latest Mark Carney News

Pro-EU party wins, cuts Johnson's UK Parliament margin to 1

Aug. 2, 2019 9:23 AM EDT

LONDON (AP) — British Prime Minister Boris Johnson's Brexit-backing Conservative Party lost a special election Friday to a pro-EU opposition candidate, leaving Johnson with only a one-vote majority in Parliament as the U.K.'s departure from the European Union looms. In the Conservatives' first electoral...

Bank of England says Brexit uncertainties 'more entrenched'

Aug. 1, 2019 12:44 PM EDT

LONDON (AP) — The probability that Britain's economy slips into recession early next year is rising even if the country manages to negotiate a smooth and orderly exit from the European Union in the weeks ahead, the Bank of England warned Thursday. With Brexit uncertainties becoming "more entrenched" as...

Boris Johnson's Conservatives face test in special election

Aug. 1, 2019 11:15 AM EDT

LONDON (AP) — After a first week in office that saw him booed in Scotland and berated in Belfast, British Prime Minister Boris Johnson was facing his first electoral test on Thursday — a special election that could see his Conservative government's working majority in Parliament cut to just one...

Codebreaker Alan Turing to be face of new British banknote

Jul. 15, 2019 8:30 AM EDT

LONDON (AP) — Codebreaker and computing pioneer Alan Turing has been chosen as the face of Britain's new 50 pound note, the Bank of England announced Monday. Governor Mark Carney said Turing, who did ground-breaking work on computers and artificial intelligence, was "a giant on whose shoulders so many now...

Germany denies backing BoE chief Carney as next head of IMF

Jul. 10, 2019 8:20 AM EDT

BERLIN (AP) — The German government says it hasn't decided who it wants to succeed Christine Lagarde as the next head of the International Monetary Fund. Government spokeswoman Ulrike Demmer told reporters in Berlin on Wednesday that Germany "would wish for a qualified European candidate." She denied...

UK economy recovers in May, easing immediate recession fears

Jul. 10, 2019 7:26 AM EDT

LONDON (AP) — The British economy bounced back in May, official figures showed Wednesday, allaying some fears that the country could slip into recession ahead of the revised Brexit deadline. The Office for National Statistics said the economy grew a monthly 0.3% in May, largely because carmakers ramped up...

UK recession fears mount amid Brexit and global slowdown

Jul. 3, 2019 7:36 AM EDT

LONDON (AP) — Britain's economy showed alarming signs of a sharp slowdown, possibly even into recession, as uncertainty over Brexit combines with a less benign global backdrop, according to a closely watched survey of business activity in the U.K. released Wednesday. The survey, from financial information...

UK bank chief: trade war may 'shipwreck' global economy

Jul. 2, 2019 1:28 PM EDT

LONDON (AP) — Bank of England Governor Mark Carney warned Tuesday that the British economy is barely growing in the wake of mounting Brexit uncertainties and intensified trade tensions. Carney said in a wide-ranging speech that a "sea change" has taken place in financial markets in recent months largely...

Bank of England's Carney hints at stimulus in no-deal Brexit

Jun. 26, 2019 9:47 AM EDT

LONDON (AP) — The governor of the Bank of England gave his biggest hint yet that he'd back a stimulus package for the British economy if the country crashes out of the European Union at the end of October with no deal. In testimony to lawmakers on Wednesday, Mark Carney said the response from the bank's...

Bank of England to mull access for likes of Facebook's Libra

Jun. 20, 2019 4:11 PM EDT

LONDON (AP) — The Bank of England is open to letting new payment services such as Facebook's upcoming Libra hold funds overnight with the central bank, something historically limited to commercial banks. In prepared remarks to bankers in London, the bank's governor, Mark Carney, said it "makes sense to...