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FPC & Carney - Do....well, nothing

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Comments

  • Bantex_2
    Bantex_2 Posts: 3,317 Forumite
    Dan: wrote: »
    who cares. long may low interest rates continue! :)

    Made a bit of a fool of yourself this time dude.
  • Dan:_4
    Dan:_4 Posts: 3,795 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Bantex wrote: »
    Made a bit of a fool of yourself this time dude.

    hahahahaha :beer:
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    wymondham wrote: »
    With this in mind can you ever see a situation whereby the BofE puts up interest rates without the Chancellors backing?

    Yes, as the BOE MPC committee has the power to do so.

    Carney is his own man. The very reason he was head hunted for the role. The BOE's interference in mortgage lending is the first in over 30 years. Long may it continue.
  • CLAPTON
    CLAPTON Posts: 41,865 Forumite
    10,000 Posts Combo Breaker
    Thrugelmir wrote: »
    Yes, as the BOE MPC committee has the power to do so.

    Carney is his own man. The very reason he was head hunted for the role. The BOE's interference in mortgage lending is the first in over 30 years. Long may it continue.

    so far Carney seems to have been buffeted by general opinion and seems to have no independent views (except we should build more houses)

    in any event is doesn't matter much as he has only one vote.
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    CLAPTON wrote: »
    so far Carney seems to have been buffeted by general opinion and seems to have no independent views (except we should build more houses)

    in any event is doesn't matter much as he has only one vote.

    His interviews when listened to in full seem to have a clear sense of direction. There again the media is only interested in sound bites as no longer the ability to listen and comprehend.
  • CLAPTON
    CLAPTON Posts: 41,865 Forumite
    10,000 Posts Combo Breaker
    Thrugelmir wrote: »
    His interviews when listened to in full seem to have a clear sense of direction. There again the media is only interested in sound bites as no longer the ability to listen and comprehend.

    he talks responds to what the press are 'demanding' and so has made a idiot of himself and has disrupted the markets for no reason.

    he has no sense of direction except that found in a first year economics textbook.

    the latest nonsense is just an attempt to be seen 'doing' something although everybody (including himself) admits its pretty meaningless and will have no effect.
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    edited 27 June 2014 at 11:40PM
    CLAPTON wrote: »
    he talks responds to what the press are 'demanding' and so has made a idiot of himself and has disrupted the markets for no reason.

    he has no sense of direction except that found in a first year economics textbook.

    the latest nonsense is just an attempt to be seen 'doing' something although everybody (including himself) admits its pretty meaningless and will have no effect.

    Is this your personal opinion or from a well informed written source?

    As bears little resemblance to what I've heard and read. Which certainly bears the hallmarks of a coherent attempt to rein in the banks.

    The Governor of the BOE who ever it is. Isn't there to play games. Despite what you might suggest. Steering the UK away from a potential financial crisis no 2 isn't an easy task.

    PS My economics books have no explanations as to how to deleverage debt positions successfully. Historically no country has actually achieved it with defaulting. A sobering thought.
  • tomterm8
    tomterm8 Posts: 5,892 Forumite
    Part of the Furniture Combo Breaker
    Thrugelmir wrote: »
    Yes, as the BOE MPC committee has the power to do so.

    Carney is his own man. The very reason he was head hunted for the role. The BOE's interference in mortgage lending is the first in over 30 years. Long may it continue.

    Parliament is soverign.

    There is no such thing as an independant central bank. That is the reason Germany has the Euro. The German central bank certainly didn't want it.
    “The ideas of debtor and creditor as to what constitutes a good time never coincide.”
    ― P.G. Wodehouse, Love Among the Chickens
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