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Profile: Mark Carney
Mark Carney has been Governor of the Bank of England since 1 July 2013. Prior to this, Canadian-born Mr Carney was Governor of the Bank of Canada between 2008 and 2013. Since 2011 he has also served as Chairman of the Financial Stability Board (FSB).
After studying economics in Harvard and Oxford, Carney started his career at the investment bank Goldman Sachs before taking the post of Deputy Governor of the Bank of Canada in 2003. There then followed a brief stay at the Canadian Department of Finance before he returned to the Bank of Canada in 2008.Mark Carney was born in the small Canadian town of Fort Smith on 16 March 1965. He is the first non-Briton to serve as Governor of the Bank of England.
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Speech in celebration of the change of office
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The Phillips curve
The Phillips curve was invented by UK economist Alban William Phillips, who observed a correlation between nominal wage growth and the unemployment rate for the period 1861 to 1957. The original version of the curve implies a trade-off between unemployment and inflation. Empirical evidence shows, however, that the relationship is not nearly as simple as that. Over the past 50 years, the Phillips curve has time and again been hotly debated, leading to numerous modifications.
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Foundation stone laid for the new office building of the Executive Board on 10 November 1967
Guests in the official gallery, from left to right: Mr Troeger (Bundesbank Deputy President), Mr Vocke (former President, Bank deutscher Länder), Mr Bernard (former President, Bank deutscher Länder), Mr Könneker (former Bundesbank Director)
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Speech by Andreas Dombret at the Handelsblatt Annual Conference
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Jens Weidmann in an interview with ARD
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The Lehman-insolvency and the financial crisis
The insolvency of LBHI in September 2008 was the culmination of events that had begun in the summer of 2007 as a crisis in the US real estate market. This brought the interbank market virtually to a standstill. Within a year, a crisis that had until then been confined to the United States had engulfed the global financial and economic system.