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
Brewin's Gutteridge & Foster talk property with Standard Life's Baggaley

Brewin's Gutteridge & Foster talk property with Standard Life's Baggaley

Gutteridge and Foster discuss UK commercial property with Jason Baggaley, manager of the Standard Life Property Income investment trust

Brewin's Gutteridge asks Odey's Tim Bond two tough questions

Brewin's Gutteridge asks Odey's Tim Bond two tough questions

Gutteridge puts the heat on Odey's asset allocation maestro with a couple of tough questions.

Brewin's Foster & Gutteridge: searching for the yield of dreams

Brewin's Foster & Gutteridge: searching for the yield of dreams

Guy Foster and Ben Gutteridge discuss the latest upbeat US payroll report and how it has increased the probability of a first hike in interest rates in June.

Your Business: Cover Star Club

Profile: Creechurch Capital’s CEO on going the extra mile in a crowded market

Profile: Creechurch Capital’s CEO on going the extra mile in a crowded market

Growing a business is the main aim of many company owners but managing that growth in a controlled way is just as important

Wealth Manager on Twitter