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Carney axes jobs target in major forward guidance shift
by David Campbell on Feb 12, 2014 at 11:22
'Unemployment numbers don’t take into account the breadth of human experience and is too coarse a measure to be useful for policy setting.'
He added: 'In that case it isn’t surprising that the BoE abandons strict numerical targeting. What a capitalist economy like we have in the UK needs is a new and vigorous credit cycle built on a stable banking system and a working population that has the confidence and self-assurance to borrow.
'The BoE would do well to concentrate on that.'
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