BoE Mark Carney Confident Forward Guidance Should Boost UK Economy

New Bank of England Governor Mark Carney has said that his new regime should boost the UK’s economic growth.

He told the BBC that keeping interest rates at the current level until unemployment fell below 7% was expected to boost the economy by “more than half a percentage point of GDP”.

But he warned that this prediction should be taken “with a grain of salt”.

He also told the Today programme it was “striking” that there were no women on the Monetary Policy Committee (MPC).

The MPC is the committee at the Bank of England responsible for setting interest rates.

Mr Carney said that while he was not responsible for appointing members of the MPC, it was important to “grow top female economists all the way through the ranks”, so there would be more female candidates for MPC positions and qualified candidates to be a future governor.

via BBC

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