Jim Armitage: Taking on Carney might not be a walk in the park
Outlook Mark Carney's PR savvy impresses more with every outing. First his arrival at Threadneedle Street by Tube rather than limo. Then women on banknotes. Now, his love-in with the East Midlands.
With all the dexterity of a Nottingham lacemaker, he tickled the city's audience as they had never been tickled before.
Not only did he reach into his metrosexual manbag for a reference to Nottingham's hippest young thing, Jake Bugg, he opted to shrug off requests from the FT, the Wall Street Journal and the BBC, granting his first major interview to... The Nottingham Post. Clever, populist stuff.
Cynicism aside, the new Governor's first speech in office yesterday was excellent. He used far more empathic terms than Mervyn King ever managed, to acknowledge the pain the Bank's easy-money policy is having on savers. He spoke persuasively of the need to help banks to lend. But, most importantly, he was tough on the financial speculators who have priced in interest rate rises before the three-year horizon he set out with his forward guidance earlier this month.
Traders, of course, felt less inclined to roll with the spin, pushing up the pound and bond yields despite Mr Carney's insistence that they are premature in their bets. Unlike at the Bank of Canada, where he was a dictator, they reason, Mr Carney has the Monetary Policy Committee to convince. Hawks Ben Broadbent, Spencer Dale and Martin Weale are already against him.
But, as his countrymen on the Toronto Globe and Mail point out in an editorial today, this is a Canadian with a Machiavellian instinct. Using skills honed by 13 years at Goldman Sachs, he employed sharp elbows and guile to shape the Bank of Canada's leadership and could do the same over here.
Don't be misled by the PR tricks: the markets should think twice before betting against the Governor.
Geoffrey Macnab does not like the comedian's big screen debut
Look beyond the usual shows for the best festive telly
The battle for control of Stieg Larsson's £30m legacy
French pub fined €9,000 after customers returned empties to bar - because it's 'undeclared labour'
David Cameron takes his biggest gamble yet as he gets tough on Europe over immigration
Two PAs cleared of fraud - and Nigella Lawson left reeling at 'ridiculous sideshow' of drug allegations and public dissection of her marriage to Charles Saatchi
Burglar steals video tapes of child abuse, hands them into police
Paul Walker's daughter Meadow attends Justin Bieber Believe premiere
- 1 Tim Sherwood challenges Daniel Levy to set out vision for Tottenham Hotspur’s future
- 2 French pub fined €9,000 after customers returned empties to bar - because it's 'undeclared labour'
- 3 Sun will 'flip upside down' within weeks, says Nasa
- 4 #Teamnigella: It’s the only side to be on
- 5 Christmas comes early: Justin Bieber is 'retiring from music'
- < Previous
- Next >
iJobs Money & Business
£59999 - £80001 per annum + Benefits: Pro-Recruitment Group: A Top 10 firm in ...
£50000 - £75000 per annum + benefits + bonus: Harrington Starr: Project Manage...
£60000 - £90000 per annum + benefits + bonus: Harrington Starr: Business Analy...
£Negotiable: Citifocus: High calibre individual with institutional client serv...