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Matthew Lynn’s London Eye: Bank of England should worry about a Brexit boom, not a Brexit bust

Mark Carney, the governor of the Bank of England, is hardly the most reliable guide to anything.

He has warned constantly that interest rates will have to rise soon, but has managed to get through three years in office without changing them even once. He has been through several versions of “forward guidance,” and come up with a range of newfangled ways of managing monetary policy, only to abandon them after a few months. An East German Trabant was more likely to get you to your destination on time.

The sensible move for the bank would be to postpone any cut in rates.

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