Charles Goodhart News
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The Bank of England officially takes on powers to regulate the financial industry this week, marking another step in one of the biggest revamps of the institution in its three centuries.
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If you’ve ever experienced high inflation, you’re unlikely to forget it. In the decades between the end of World War II and the creation of Europe’s new currency, Germany’s central bank set the global standard for sound finance and monetary conservatism. Germany’s folk-memory tied the hyperinflation of the 1920s to the destruction of German society and the rise of Adolf Hitler. “Never again” was the idea that motivated, and to some degree still motivates, German monetary policy.
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The devil lies in the detail of Cyprus’s salvation.
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Former Bank of England policy maker Charles Goodhart said U.K. finance minister George Osborne may struggle to find a successor for central bank Governor Mervyn King untainted by the financial crisis and banking scandals.
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The Bank of England should expand its toolkit to include interest-rate cuts on reserves and consider steps to aid banks such as buying their bonds or injecting equity into them, said former policy maker Charles Goodhart.
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The U.S. Consumer Financial Protection Bureau has told at least four banks that it may sue them over vehicle loans and interest-rate markups by auto dealers that appear discriminatory, according to three people briefed on the matter.
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Former Bank of England policy maker Charles Goodhart said now is an “excellent time” to buy a home in Britain if you can afford it because the nation’s housing shortage will keep pushing up prices.
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The Bank of England is more likely to change communication policy than its inflation target once Mark Carney becomes governor in July, said Morgan Stanley economists including former central banker Charles Goodhart.
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The U.S. government may find it hard to push through austerity measures to reduce the budget deficit as the economic recovery falters, former Bank of England policy maker Charles Goodhart said.
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Greece’s bailout “might collapse” and the nation’s debt crisis makes it “hard to see” how the euro will survive in its current form, former Bank of England policy maker Charles Goodhart said.
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