Carney to quit?

Carl31

Reports from various sources saying he could make an announcement as soon as Thursday

Sapphire

Carl31 wrote: »

Reports from various sources saying he could make an announcement as soon as Thursday

It wouldn't surprise me, since he already said he would be leaving early some time ago. Of course, the Remoaners will try to make capital out of his announcement. Personally, I would prefer it if the governor of the Bank of England was British, and certainly not as closely linked to Goldman Sachs as Carney is. I don't think his policy of money printing and keeping interest rates so low for such a long time was a good one, given that it has encouraged people who could ill afford to take on future interest rises to take on a huge amount of debt, and encouraged house prices to rise to ridiculous levels.

Thrugelmir

Has voiced plenty of personal opinion. Which perhaps isn't the expected remit of a person in such an important position. With Article 50 being triggered in March. Perhaps feels that now is the time to depart. Also a complete change on Government policy may have contributed. Osborne of course is out of the picture.

Low savings rates and pension scheme deficits are his legacy. A complete change of direction would undermine his own credibility.

A_Medium_Size_Jock

Carl31 wrote: »

Reports from various sources saying he could make an announcement as soon as Thursday

The overt politicisation of the BOE under Carney has been telling, then?
TBH given his performance (QE; rates cut) since the referendum and specifically in August I'm surprised it is taking this long.

Since when does the BOE cut rates and provide supposed monetary stimulus BEFORE official data shows that such measures are in fact necessary?
His behaviour has - quite frankly - been nothing short of shameful.

Thrugelmir

A_Medium_Size_Jock wrote: »

Since when does the BOE cut rates and provide supposed monetary stimulus BEFORE official data shows that such measures are in fact necessary?
His behaviour has - quite frankly - been nothing short of shameful.

There was a political void. Interest rate policy etc can be changed every month. All that's required is a vote.

PS. Carney didn't make the policy alone. Is a committee decision.

Graham_Devon

He was a very political appointment - taken on directly by Osbourne and Cameron, and he's done and said everything since then to back up Osbourne, even down to making statements which come across as very political.

Mervyn King has stated this many times and has been on Newsnight vocally arguing the case that Carney is doing what politics requires, rather than what the economy requires.

So makes sense that he may decide to go now that both Cameron and Osbourne have gone. No doubt he'll get paid the full term anyway.

Personally? I think we need someone who actually does the job to the best of their ability, rather than being an obvious government puppet.

wotsthat

There's been a regime change. All things Osborne are being dismantled.

padington

If they don't want foreign academics giving them brexit advise from UCL, what chance does Carney have to stay around ...

Carl31

Graham_Devon wrote: »

Personally? I think we need someone who actually does the job to the best of their ability, rather than being an obvious government puppet.

That can be said in most of government, look what happened to David Nutt the Drug advisor, says something factual that doesn't fit in with the 'war on drugs' and hes out

While we have a single party in charge, we will only get 'yes' men in positions of significance

CLAPTON

Carl31 wrote: »

That can be said in most of government, look what happened to David Nutt the Drug advisor, says something factual that doesn't fit in with the 'war on drugs' and hes out

While we have a single party in charge, we will only get 'yes' men in positions of significance

yes, much better to get rid of elected politicians and just have unelected 'experts' appointed by ................?

Sapphire

I hear he is not now going until 2019. Not sure what to think about that because he appears to be an Osborne/Goldman Sachs man. I don't think his policy of very low interest rates (encouraging people who can ill afford it to borrow massive amounts of money), or excessive money printing has been good for the future of Britain's citizens. Only a few years ago, interest rates were at 6 per cent or more, and such a situation is bound to occur again – raising interest rates cannot be put off forever. He does need to be more positive about our country than he has been until now, and he should stick to finance. Perhaps we need someone who has a new and different approach?