Yesterday Mark Carney – who hates it when politicians say anything about him – had a pop at Boris Johnson, ridiculing his optimistic approach to Brexit as seeking “cake and consumption”. Set aside the impropriety of the Bank of England governor making such a political swipe, Brexit was a deep psychological blow for people like Carney – but at least managed to give him an excuse to keep the economy on the drug of rock-bottom interest rates. Employment is at a record high, inflation is over the target but Carney said yesterday that he still doesn’t think it is “the time to begin that adjustment” – i.e. rate rises.
The thing is, it’s not up to him. It’s down to a vote in the eight-member Monetary Policy Committee and at the last count three of them wanted a rise.
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