Mark carney

If Mark Carney had any reservations about his move to Threadneedle Street later this year, he might now add to his list regular sessions with the Treasury Select Committee. His three-and-a-half hour hearing included a quiz from Committee member David Ruffley on his ability to explain capital ratios and other terms, questions on how many mistakes he’d be happy for staff to make, whether he wanted to rename the Bank’s Court, and whether he’d judge his success on the return of growth to the economy during his tenure. The MPs also started their session with a bit of a grump about his £874,000 pay package, although as James Barty argued

George Osborne pulled off one of those bits of political theatre that he so enjoys today. Watching his statement in the Commons, one sensed something was up as Osborne delighted in delaying naming the new bank governor. It was an indication that, like the Mounties, the Chancellor had got his man. Moments later, a clearly delighted Osborne announced that Mark Carney, the Canadian Central Bank Governor, would be the new governor of the Bank of England. This is quite a coup for Osborne as Carney is widely regarded as the best central bank governor in the world. It also marks a clear break with all that has gone wrong in