Wealth Manager - the site for professional investment managers

Register to get unlimited access to 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 Mark Barnett - part 2: why I'm not buying Lloyds

Mark Barnett - part 2: why I'm not buying Lloyds

In the second part of our exclusive video interview, Barnett explains why he has no intention of buying Lloyds, and where he sees the greatest income opportunities.

Play Wealth managers reveal the best investment ideas of the year

Wealth managers reveal the best investment ideas of the year

From robotics to impact investing, wealth managers share the best ideas they have heard this year.

Play Baillie Gifford's Earnshaw on Xi Jinping's 'new era'

Baillie Gifford's Earnshaw on Xi Jinping's 'new era'

Sophie Earnshaw talks through what Xi Jinping's 'new era' means for investors. and why Chinese tech offers some of best growth stocks in the world.

Read More
Your Business: Cover Star Club

Profile: JM Finn on why the future is with financial planners

Profile: JM Finn on why the future is with financial planners

There is a lot of work on pension consolidation and Sipps have been a big driver there, says JM Finn chief executive

Wealth Manager on Twitter