inside business

Why the calm over interest rates might not last

Mark Carney is less than enthusiastic about the new economic decade, writes James Moore

Thursday 30 January 2020 20:42 GMT
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Carney was careful not to put too much emphasis on blaming Brexit
Carney was careful not to put too much emphasis on blaming Brexit

From an economic perspective, the last decade ended with a whimper,” said the Bank of England’s governor Mark Carney at the Monetary Report press conference following the Monetary Policy Committee’s final interest rate decision with him in the chair.

“The question facing the MPC at this meeting was whether the new decade would start with a bang,” he continued.

You don’t need Carney to tell you that it hasn’t done that. But there have been enough mildly positive signs in the run-up to the MPC’s latest meeting for it to stand pat and keep interest rates at 0.75 per cent.

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