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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Free AccessMNI BRIEF: Sunak: BOE Responsible For Reserve Remuneration
Chancellor of the Exchequer Rishi Sunak, in a written response to the Lords Economic Affairs Committee, said that the UK Treasury is not considering ending remuneration of central bank reserves and that it was a matter for the Bank of England. Sunak said that the idea of ending reserve remuneration, an idea floated by some high profile economists, such as former Monetary Policy Committee member Charles Goodhart, "is not one that is being considered by the Treasury" adding that "the independent MPC has sole responsibility for the operation of monetary policy."
Sunak did not respond directly to LEAC's question over whether the Treasury would publish the Deed of Indemnity, which sets out the conditions under which the Treasury would remunerate the Bank in the event of losses from quantitative easing.
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.