BoE Governor Backs UK PM Call for Economic Policy Rethink

Mark Carney has backed the prime minister’s call to rethink Britain’s economic policy and rejected the idea that criticism of the side-effects of unconventional measures amounted to an attack on the independence of the Bank of England.

In his first public comments since Theresa May said there had to be a change to a system that was biased in favour of the asset-rich and mortgage payers, Carney said: “I entirely agree with the spirit of what the prime minister said.

“I have long said that monetary policy has been overburdened. There needs to be a better balance of monetary policy, fiscal policy and structural policy.”

His remarks at the International Monetary Fund in Washington came as the chancellor, Philip Hammond, sought to counter the suggestion that the government was unhappy with Carney’s performance and was thinking of replacing him as governor.

via The Guardian

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza