According to the Bank of England (BoE) governor Andrew Bailey, recent plans for “pension superfunds” could pose a threat to financial stability. Bailey has written to the work and pensions secretary, Therese Coffey, to criticise elements of an interim framework for pension superfunds, which was recently announced by The Pensions Regulator (TPR). This was widely heralded by the pensions industry as a way to protect scheme members in the long-term Read More….
According to Bank of England Governor Mark Carney, central banks might not be able to stop a sharp economic downturn as ever since the global financial crisis, they have used up much of their usual monetary policy arsenal. “It’s generally true that there’s much less ammunition for all the major central banks than they previously had and I’m of the opinion that this situation will persist for some time,” Carney Read More….