Image source, AP

The main event is over at Jackson Hole. Janet Yellen - in a rather wistful shot here in the Wyoming national park flanked by Fed vice chairman Stanley Fischer and New York Fed president Bill Dudley - has given her speech.

But there's more coming up at the Davos for central bankers. 

The Bank of England's Minouche Shafik has just spoken about the diverging paths for the US Fed and the UK bank, which has cut interest rates to record lows.

For central bank enthusiasts, the event will also be looking at negative interest rates, alternative monetary frameworks, and the structure of central bank balance sheets.

Bloomberg's Jeffrey Black is impressed with members of the US central bank meeting protesters yesterday at the Jackson Hole event. 

The Fed Up campaign is calling for a People's Bank that's "free from Wall Street's influence".

Markets were watching closely for signs in Janet Yellen's speech that the US central bank will raise interest rates next month.

And judging from analysts' reaction so far they're still waiting.

Peter Tchir at Brean Capital said the Federal Reserve chairwoman was "mildly hawkish, mildly dovish".  

Neil Wilson at ETX Capital agreed, saying "Yellen gave no fresh indication about the key question hanging over markets – will the Fed hike in September".       

FT journalist Katie Martin sums it up...

Image source, Science Photo Library

The price of gold has fallen after the comments from the US' top central banker and is on course for the fifth consecutive day of declines.

The shiny stuff has dropped $11 to $1,320 per ounce, the Financial Times reports. 

It's not just US stocks that have got a push from Fed chairwoman Janet Yellen's comments on a rate rise. 

The FTSE 100 was pretty much flat when the speech came out, but is now 0.5% higher at 6,853 points.

The pound is also up - rising 0.4% against the dollar to $1.3240. 

"Whatever Yellen is saying is playing well with the pound," says ETX Capital's Neil Wilson.

Aberdeen Asset Management's James Athey says of Janet Yellen's rate rise comments...

US markets are higher after the text of Janet Yellen's speech , externalwas released. Initially they dipped but seem to have recovered now.

The Dow Jones is up 0.61% at 18,561

The S&P is up 0.6% at 2,186

The Nasdaq is 0.4% higher at 5,232.

US Federal Reserve chairwoman Janet Yellen says the central bank expects moderate economic growth in the US, an even stronger labor market, and inflation rising to the bank's 2% target over the next few years. 

It's based on this economic outlook, she says, that the Fed continues to anticipate that gradual increases in interest rates will be appropriate over time.  

Janet Yellen, the chairwoman of the US central bank, says the case for raising interest rates has "strengthened" in recent months.

That is in light of the "continued solid performance" of the US jobs market and "our outlook for economic activity and inflation", she tells the Jackson Hole economic symposium. 

The Federal Reserve's policy rate is currently 0.25%-0.5%. Investors had been waiting to see if the bank might increase the rate in September or wait until December, after the Presidential election.

The Virgin businessman was cycling on a Caribbean island with his children Holly and Sam as part of his training for an endurance event.

The great and the good from the central banking world are in Jackson Hole, Wyoming. It's been likened to Davos - the high-powered networking event in a Swiss mountain village.

But the Jackson Hole organisers are at pains to point out its venue - the Jackson Lake Lodge - is rather humble. The 385-room national park facility "doesn't have any resort-like amenities such as a spa, exercise room or salon", they say. 

It also remains open to the public throughout the two days of the economic symposium. 

Still, the fishing is legendary. Jackson Hole was chosen in 1982 to attract Paul Volcker, then-chairman of the US Federal Reserve and a fly fishing enthusiast. 

The view is pretty good too...

Image source, Grand Teton Lodge Company

As collapsed department store chain BHS enters its final few days, the BBC's Emma Simpson looks inside a former flagship branch. 

The FTSE 100 has made back its losses from this morning, and is now up a touch at 6,828 points. Mining stocks are doing well - Glencore, Rio Tinto and Anglo American are all about 2% higher. 

Generally, though, it's pretty quiet in the City ahead of Fed chairwoman Janet Yellen's speech at 15:00, and with the long weekend coming up.

"The Friday before the August bank holiday Monday has replaced suited commuters with sandal-wearing holidaymakers," said CMC Markets' Jasper Lawler.

The pound is largely unchanged at just over $1.32 and €1.17.   

The UK's data watchdog, the Information Commissioner's Office, is looking into WhatsApp's new privacy policy. 

The company's changes will see users' phone numbers shared with Facebook (which owns the messaging app). Companies will also be able to message users directly, although WhatsApp said it would not make data public or share it with advertisers.

Image source, Tesco

A bit more on Tesco selling its Euphorium bakeries. The coffee shop firm Soho Coffee will buy Euphorium's high street stores and Islington factory. 

However, the Euphorium bakeries inside Tesco's stores will now be run by the supermarket, which said it will be offering bakery staff the opportunity to transfer to Tesco.

"We know how important a great bakery offer is to our customers, and this agreement will mean we can continue to serve shoppers with great quality Tesco bakery products," a Tesco spokesperson said.  

The number of Americans filing for unemployment benefits unexpectedly fell last week, suggesting the jobs market was continuing to gain momentum.

It's only one week's figures, of course. But it comes on the day Fed chairwoman Janet Yellen is due to give a speech later with her thoughts on the US economy.

Last Sunday, Fed vice chairman Stanley Fischer was upbeat about US jobs growth, fueling suggestions that the US economy is strong enough to withstand an interest rate rise.

Friday's Labor Department data showed that initial claims for state unemployment benefits slipped 1,000 to a seasonally adjusted 261,000 for the week ended 20 August. It was the third straight weekly decline in claims. 

Dan Macadam
BBC business reporter

Image source, AP

Thanks very much Chris. I'll be taking over Yellen Watch for the afternoon. The chairwoman of the US Federal Reserve is scheduled to start her speech in 90 minutes' time. 

Markets have been holding their breath - admittedly because there's not much else out there - for what Janet Yellen might, or might not, say about the timing of the next US interest rate rise. I'll bring you the latest as it happens.