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Tag Archives: Mark Carney

Mark Carney Steadies GBP/CHF Rates on Global Viewpoint

- Click to enlarge The pound to Swiss franc exchange rate has been steadied following comments from Mark Carney during a briefing on the global economy at the Barbican centre in London yesterday. I was fortunate to be in attendance and was struck by Carney’s confident manner, although he highlighted some major risks ahead which would be key for GBP/CHF rates. Sterling was weaker going into the talks, particularly...

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Brexit and what if means for the Bank of England

“Some market and economic volatility can be expected as this process unfolds,” Carney said in a televised statement in London after the referendum result. His comments followed Prime Minister David Cameron’s announcement that he will step down this year, which will inject political uncertainty into an already volatile period. His full announcement is below and his statement can be found here: [embedded content]...

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Carney’s (old) new normal

There are many uses of the phrase “new normal” in economics these days. Usually, it is used to signify lower growth or a different type of growth than in the pre-crisis period. Mark Carney went onto the radio this morning to talk about the “new normal” in monetary policy. Interest rates would be materially lower in future than the 5 per cent rate widely seen as normal before the crisis. The Bank of England governor’s words have been widely reported as a big new statement of policy. Is this a...

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