Bank of England Governor Mark Carney called for the defence
Sunday 25 August 2013
Bank of England Governor Mark Carney will be forced to defend his flagship policy of ‘forward guidance’ this week as markets bet on a faster fall in unemployment than the central bank predicts.
The Canadian has said rate-setters will not consider raising interest rates from their current record low of 0.5 per cent until unemployment falls to 7 per cent, which the Bank does not expect to happen until 2016.
But upbeat economic data has prompted money markets to price in a first rate hike in March 2015.
Economists expect Dr Carney to stand by the policy a speech in Nottingham on Wednesday. Deutsche Bank chief economist George Buckley said: “He is likely to echo the same sort of language that the BoE used in July when it said rises in money market rates were ‘unwarranted’.”
- 1 McKamey Manor: This 'extreme' haunted house is the stuff of nightmares
- 2 Russell Brand says he will 'probably' give up acting to focus on his revolution
- 3 Watch what happened when food critics were unknowingly served McDonald's
- 4 David Beckham's Haig Club whisky is exactly what’s wrong with the Highlands
- 5 Ottawa shootings: Bruce MacKinnon's cartoon is the perfect tribute to soldier Nathan Cirillo
Oscar Pistorius was 'gun-toting', 'trigger-happy' and 'combustible' claims Reeva's mother
Eleven members of same family hospitalised after eating deadly pufferfish
Phone-hacking: The Piers Morgan connection - Mirror admits some stories during Morgan's tenure may have been obtained by illegal means
Tony Blair 'says Ed Miliband will lose 2015 general election'
Russell Brand says he will 'probably' give up acting to focus on his revolution
iJobs Money & Business
£60000 per annum: Ashdown Group: Compensation and Benefits Manager - Compensat...
£30000 - £35000 Per Annum plus excellent benefits: Clearwater People Solutions...
£24000 - £28000 per annum + bonus & benefits: Ashdown Group: IT Business Syste...
£50000 - £90000 per annum + benefits: Ampersand Consulting LLP: Markit EDM (CA...