The new Fed chair faces the challenge of making a bold call to either resist or go along with conventional wisdom to hold the line on interest rates.
After years of denial central banks are finally coming around to recognise that they must take responsibility for asset bubbles that can wreak economic havoc.
Major investors could face huge losses if they continue to be complacent about the impact of rising interest rates on their riskier trades, the Bank of England's financial policy committee has warned.
Investors pricing in a rate hike in mid-2015 could get caught off guard, former Federal Reserve Governor Robert Heller told CNBC on Wednesday.
Chancellor George Osborne has appointed a respected female economist as a Bank of England deputy governor, ending four years of an all-male interest-rate setting committee.
The era of record low interest rates in the U.K. has helped salvage the country's economy - but also created further problems.
Five years ago this week, on 5 March 2009, the Bank of England took the dramatic step of cutting interest rates to their lowest level in more 300 years.
The Bank of England would never give "time-specific" guidance on the U.K's first interest rate hike, Ben Broadbent, Bank of England monetary policy committee member - and rumored leading contender for the deputy governorship - told CNBC.
UK homeowners and businesses should be braced for an interest rate rise around the time of next year's general election, a senior Bank of England policymaker said on Thursday in the most explicit guidance on borrowing costs yet provided by Threadneedle Street.
An early increase in borrowing costs was ruled out by the governor of the Bank of England as he insisted that this week's faster than expected fall in unemployment will not lead to an automatic interest rate rise that might choke off the recovery.