Investment Week (May 22, 2013)
Mark Carney will soon head the Bank of England (BOE). In his last speech as Governor of the Bank of Canada, he was critical of European leaders for not doing enough to stimulate the economy, blaming Europe’s lingering recession on “fiscal austerity, low confidence and tight credit conditions” and warning against a lost decade. In contrast, Carney was highly supportive of recent monetary stimulus by the Bank of Japan. Much of Carney’s future success at the BOE will be determined by the state of the eurozone, which accounts for the majority of U.K. trade.
Tags: Bank of Canada, Bank of England, Bank of Japnan, Europe, Fiscal austerity, Japan, Mark Carney, Recession, Stimulus
Euromoney (November 26)
The UK looked outside in appointing the Bank of England’s next governor. “The surprising appointment of Mark Carney, Bank of Canada governor, could have profound consequences for the UK’s monetary framework, financial services industry and global bank reform drive.” Carney had been named Euromoney’s Central Bank Governor of the Year for 2012, an award he accepted in Tokyo during the IMF/World Bank meetings.
Tags: Bank of Canada, Bank of England, Governor, Mark Carney, Reform