Carney admits plan to ‘shake up the markets'

clock

Bank of England Governor Mark Carney has admitted the Mansion House speech he gave last month was deliberately designed to 'shake up the markets'.

In a hawkish mood that caught the industry by surprise, Carney said during his speech that the market had become complacent about the prospect of interest rate rises sooner than expected. Asked by MP Jesse Norman at the Treasury Select Committee yesterday whether his comments has been deliberately designed to “shake up the markets”, Carney replied, “absolutely”.  “We were concerned that markets were not reacting to a fairly long run of data that had been as expected, if not a little better, and there had not been a change in the prediction for the first rise in interest rates,” he sai...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Economics

Trustpilot