The governor of the Bank of England has to write a letter of explanation to the chancellor if the inflation rate is more than 1% either side of the 2% target. On Tuesday, Mr Carney told MPs on the Treasury Committee that “inflation rising potentially above the 3% level in the coming months is something we have anticipated.”
UK inflation at highest since April 2012
If the Bank of England and the OECD can predict the future, Biased BBC definitely can.
November or December 2017: Carney’s letter will be deeply pessimistic about Brexit, so the BBC will report it as the top story with two or three articles of “analysis” where they cherry pick some other statistics to mislead the nation once again. Several days later Laura Klueless will ask the chancellor some stupid questions and whatever the answers are the BBC will present it as being further proof that Brexit is destroying the economy.
i dont pay any attention to kuntsberg, im always surprised when anyone does
The msm is in now peddling Project Fear 2.0 as if they hadnt learnt anything from the referendum.
More “expert” analysis from OECD
Reversing Brexit would boost economy, says OECD
As for Carney if he hadnt run such a loose monetary policy he wouldnt be needing to write any lettter’s.
WRT the OECD and their pro EU scaremongering.
Maybe this is the reason?
Isn’t this the same oufit that said.
1. We had to join the ERM.
2. We had to join the Euro.
3. Voting Leave would bring on economic apocolypse the day after the vote.
Charlotans – the lot of them.
PS What is Carney’s personal objective in his behaviour both before and since Independance Day?
I’m guessing Carney wants a job in the Eu as a stepping stone to the world bank or whatever their fairly amoral profession sees is the top of the pecking order.
Sterling weakness against the dollar / euro is bound to push inflation up a bit . I’m surprised it’s only happening now . I don’t think Carney wants to be the one who increased interest rates and kicked off a full recession with negative equity again.
Unlikely with hoards of the buggers still swamping us .
Carney will just go back whence he came, Goldman Sachs.
And whoever appointed him needs a trip through Traitor’s Gate.
A typical BBC approach to an economic news report: “Inflation has hit a five year high and is now 0.9% above the rate of wage growth – meaning that the incomes squeeze is becoming tighter. And if you are employed in the public sector – where pay rises are capped at 1% – or rely on benefits – which are frozen – that squeeze is even tighter.”
Here’s a Biased BBC Reality Check (11/09/2017):
Let’s face it, the BBC is the voice of the public sector. A publicly funded voice that ignores at least two-thirds of the British public. Only interested in the private sector when there’s bad news (when has the BBC ever visited a private company when they have revolutionised surgical procedures through innovation?) and only show the public sector in a good light (the BBC are constantly running stories of life-saving surgical techniques focussing on those who use the tools developed in the private sector rather than those who designed the tools).
Sometimes BBC reporters will talk live from factories across Britain, but they haven’t a clue what the machines they are standing next to do. And they have no interest! They have no knowledge of lathes, CNCs, robotics, laser drilling – engineering basics. ‘How will Brexit affect your business?’ – ‘Well, it could be good, it could be bad…’ – ‘How bad could it be?’
Yes, the BBC will focus on how bad it could be – not how good.
Fred Dibnah was probably the closet the BBC ever came to the industrial revolution without having to dirty their soft unblemished hands. I have no idea how Fred would have voted in the EU Referendum if he were still alive, but I’m sure he would have laughed it off whatever the outcome.
I rather liked Fred – not that I knew him personally – and I think I could guess how he’d have voted.
Very fair point. It’s like budget day when al Beeb sends an arts grad journo to a factory in the midlands and the beeboid treats it like a royal visit to an alien land. Actual business doesn’t get much of a look in but there are plenty of pundits, economists, academics , ex politicians, dead head peers and others who have lived off the wealth creation of others through taking their taxes but still want to tell us how it is .
A few years ago carney said he would raise interest rates when unemployment was down to 7%
What is the unemployment rate now.
All that has happened since is that he has reduced interest rates.
You can take anything he says with a pinch of salt.
When we get to the next recession, our main tool to fight it is lowering interest rates.
With this fool in charge we will not have that option.
EG, glad you made those points.
Funny thing, I have never heard a BBC journalist or presenter ask Mark Carney about them.
Now, there’s a thing.