BoE’s Carney Struggles to Articulate his Vision

Mark Carney is making life harder for himself.  Lauded as “simply the best” by the man who appointed him to take over the Bank of England a year ago, Carney is now experiencing the sharper edge of public life in Britain as he struggles to articulate his vision for monetary policy.

The governor has already whipsawed investors twice this month on the timing of the BOE’s first interest-rate increase since 2007. That comes on the heels of a forward guidance strategy unveiled in August that he heralded as a source of certainty. And even before he took the job, Carney, 49, signaled he wasn’t even considering it before accepting the position three months later.

As his first anniversary on July 1 nears and he shapes up to begin the BOE’s exit from monetary stimulus, economists say he needs to hone his game.


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