Assessment of BoE’s Carney’s First Year

The red carpet rolled out for Mark Carney’s arrival in London may now look a little worn around the edges. His first year as Governor of the Bank of England saw him called everything from “rock star” to “unreliable boyfriend.”

Leaving aside that rock stars are not famed for their reliability as boyfriends, this merely suggests that, like any official feted as he was, he has simply proven to be human, and not quite the vision of central banking perfection the government was eager to sell him as.

“He came in with flying colors, obviously made up to be way more than he realistically could be, but he has flip-flopped. He was way too dovish…communication has not been good,” Erik Nielsen, global chief economist at UniCredit, told CNBC.


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