Disgraceful Bank chief must quit

System

atush wrote: »

And I dont see anything wrong with the head of the BOE warning of possible shocks to the economy. It is part of his job.

But did he consider that his choice of words might actually be causing the very shocks he was predicting?

lisyloo

But did he consider that his choice of words might actually be causing the very shocks he was predicting?

I don't think that's right.
If he's saying it then it shouldn't come as a market shock.
The market does not like uncertainty.
By sending out messages, he's pre-warning everyone - that's his job.
I'm not saying he does it perfectly - he's a human not a robot, but it is an important part of his role.

CLAPTON

lisyloo wrote: »

I don't think that's right.
If he's saying it then it shouldn't come as a market shock.
The market does not like uncertainty.
By sending out messages, he's pre-warning everyone - that's his job.
I'm not saying he does it perfectly - he's a human not a robot, but it is an important part of his role.

it's extremely unlikely that most decision makers in the world didn't know that the UK was holding a brexit referendum.

Carneys' intervention was like the OECD, IMF etc politically motivated to deliberately create pro-stay sentiment

whilst I accept he is a servant of the government and that the piper calls the tune, lets just be honest that his words did harm to the UK.

System

CLAPTON wrote: »

Carneys' intervention was like the OECD, IMF etc politically motivated to deliberately create pro-stay sentiment

whilst I accept he is a servant of the government and that the piper calls the tune, lets just be honest that his words did harm to the UK.

I agree. And his words backfired because he was out of touch with the changing mood of public sentiment. He had failed to notice that bankers, including central bankers, were no longer flavour of the month.

He is too prone to believing that because he wants something to be true, therefore it is. He is currently repeating the mistake, believing that continuing ultra-low interest rates can stimulate the economy.
He has run out of ammunition, but refuses to acknowledge that all he has now are blanks.