Wealth Manager - the site for professional investment managers

Register to get unlimited access to all of Citywire’s Fund Manager database. Registration is free and only takes a minute.

BoE's Dale hits back at Carney's inflation ideas

BoE's Dale hits back at Carney's inflation ideas

Bank of England chief economist Spencer Dale has hit back at incoming governor Mark Carney's radical ideas on inflation.

To push growth, Carney, who will replace Mervyn King as the Bank's head next year, said central bankers should consider abandoning inflation targets in favour of GDP goals, a move that would mark a significant departure from central bankers' rule book.

However in his own address, Dale (pictured) voiced his fears about such a change and said it would be a strategy not without risk. 

'The punchline is there's no free lunch to coming out of these problems, there's costs and risks associated with QE [quantitative easing] and there's costs and risks associated with things like committing to levels of GDP,' Dale said, speaking at a Market News International conference.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Navigating geopolitical risk with ETFs

Navigating geopolitical risk with ETFs

ETFGI’s Deborah Fuhr on how investors can use exchange-traded funds to position their portfolio.

Play Sarasin’s Boucher: why I like salmon with chocolate

Sarasin’s Boucher: why I like salmon with chocolate

Henry Boucher, manager of the £129 million Sarasin Food & Agriculture Opportunities fund, explains why he is gobbling up salmon and chocolate stocks.

Play Alibaba hype, the UK slowdown and opportunities in European sovereign bonds

Alibaba hype, the UK slowdown and opportunities in European sovereign bonds

Libby Ashby and leading wealth managers analyse what the Alibaba IPO hype means for Chinese equities, slowing growth of the UK economy and whether there’s anything left to play for in the European sovereign bond market.

Your Business: Cover Star Club

Profile: How David Esfandi is shaping Canaccord Genuity WM

Profile: How David Esfandi is shaping Canaccord Genuity WM

After six months as chief executive of Canaccord Genuity David Esfandi's ambitions are taking shape

Wealth Manager on Twitter