Anatomy of a stupid rumour

MARK Carney, the governor of the Bank of England, has upset many people in the Conservative party because of his warnings about the economic impact of Brexit. So some including former chancellor Lord Lawson and Daniel Hannan, a eurosceptic MEP, have called on him to resign. 

As we argue in a leader in the latest issue, this political pressure on an independent central bank governor is a great mistake. On the day after the referendum vote, the prime minister resigned and Brexit campaign leaders were nowhere to be seen; it was Mark Carney who stepped forward to calm the markets. He was the only grown-up in the room.

Now the stories are circulating that Mr Carney might resign, with some even suggesting that it ccould happen as soon as this week. But here is where the British press starts to chase its own tail;…Continue reading

from Business and finance http://www.economist.com/blogs/buttonwood/2016/10/central-banking-and-press?fsrc=rss

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s