Carney to Start at BoE on Canada Day

The action begins in week one for Carney, with a monthly monetary policy decision just three days into his tenure. The central bank won’t act next Thursday, according to U.K. economist Howard Archer at IHS Global Insight. But an extra 25 billion pounds ($38 billion) will be added to its current 375 billion pound QE program soon, he told CNBC.

“This possibility may well have been increased by the revised GDP data showing that the economy is currently operating at a level further below the peak level seen in the first quarter of 2008 than previously thought. Carney himself may be particularly keen to establish his presence and to build up escape velocity. A desire to counter rising bond yields could also encourage more QE,” he said.

via CNBC

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