Carney hits back at critics of monetary policy’s distributional impact
Loss of open markets “would be a tragedy, but is a possibility”, governor says
Mark Carney pushed back against critics of globalisation and the impact of monetary easing on the poorest members of society, in a wide-ranging speech today (December 5).
The Bank of England governor echoed other officials at the central bank who have recently used speeches to defend monetary policy against accusations it is harming savers. He argued most people hold a mix of assets and therefore will see both positive and negative effects from policy easing.
Much of the speech, delivered during
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