What would you do if you were in Mark Carney’s shoes? Our experts give their views.
Merryn Somerset Webb: Imagine Mark Carney disappears. In desperation the Bank of England rings you. You are now governor. What are you going to do?
Andrew Smithers: Ring up the chancellor and explain that I can’t do anything to cure Britain’s problems. But the fact that I can’t do anything sensible is not an excuse for me to do something stupid. If you want a sustained recovery, you have to avoid having another financial crisis.
You can’t raise interest rates when your banking [...]
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