Connect with us


Bailey stresses the importance of BoE independence




The governor of the Bank of England has stressed the importance of the bank’s independence, as an argument for the government’s future power over regulators is spreading.

In a letter to Mel Stride MP on 27 July, responding to the introduction of a new bill in Parliament, Andrew Bailey said: “regulatory independence is important… anything that would weaken the independence of regulators would undermine the aims of the reforms.” .

Bailey said he welcomed the Financial Services and Markets Bill, which aims to create a “robust, accountable and internationally respected” approach to financial services regulation in the UK.

“We support proposals for regulators to have increased responsibility for setting regulatory requirements, operating within a strong policy and accountability framework established and overseen by parliament,” he said.

Bailey said regulatory independence is important to the competitiveness of the UK financial sector.

The FSM Bill, if passed, will repeal EU rules on Britain’s financial services industry.

Truss’s plans

Foreign Secretary Liz Truss, currently front-runner in the Conservative Party leadership race, recently said that if elected, she would change the mandate of the central bank to ensure inflation control and hinted at her support for disputed “summoning” powers..

Speaking at a party earlier this month, Truss said: “The best way to deal with inflation is monetary policy and what I have said is that I want to change the mandate of the Bank of England to make sure that in the future to match some of the most effective central banks in the world at controlling inflation.”

Inflation is currently at 9.5 percent and has exceeded the central bank’s two percent target since May last year.

Truss has also said she will press ahead with the introduction of powers to allow ministers to “call in” regulatory decisions in the public interest.

The plans were originally proposed as part of the Financial Services and Markets Bill, however they were dropped from the latest draft of the legislation, released last month.

In the letter released today, Bailey said the Prudential Regulation Authority will publish a discussion paper in September setting out its “vision” for implementing the framework.

[email protected]




The mention sources can contact us to remove/changing this article

What Are The Main Benefits Of Comparing Car Insurance Quotes Online

LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos


to request, modification Contact us at Here or [email protected]