He has been touted as the best man for the job, but what exactly can Mark Carney expect when he takes on the role of governor at the Bank of England next year? DeAnne Julius, former MPC member, and Chris Giles, economics editor, lay out some of the challenges. Here is a direct link.
And see this clip for an update on the UK fiscal situtation and why they have decided to hire Goldman alumnus Mr. Carney as a high-priced prestidigitator to lead their central bank.
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Thanks for sharing the clip. Perfect timing. Just read an article about BOE. The article talks about BOE holds – one third of UK’s gov’t bonds. I think this is how it works. The interests earned on the UK government bonds are transferred back to UK government as a form of revenue. On the maturity day, just cancel the bonds held at BOE without buying them back. It seems same principle could apply to any paper asset held by any central bank around the world! Is this the “EXIT” strategy – “creative accounting”? Langley, BC