Mark Carney has unveiled a series of “transformative” changes at the Bank of England that he said would help Britain to avoid a repeat of the 2008 financial crisis.
The Bank’s Governor warned that the UK faced renewed dangers from excessive borrowing and that streamlining the Bank’s monetary policy and macro-prudential divisions could help it to moderate future risks.
Low interest rates had “contributed to the gradual build-up of financial vulnerabilities in the past”, he said. “It doesn’t take a genius to see that similar risks exist today.”
In a major shake-up, Mr Carney said the Bank would:
more
Mark Carney to transform Bank of England in shake-up - Telegraph
The Bank’s Governor warned that the UK faced renewed dangers from excessive borrowing and that streamlining the Bank’s monetary policy and macro-prudential divisions could help it to moderate future risks.
Low interest rates had “contributed to the gradual build-up of financial vulnerabilities in the past”, he said. “It doesn’t take a genius to see that similar risks exist today.”
In a major shake-up, Mr Carney said the Bank would:
more
Mark Carney to transform Bank of England in shake-up - Telegraph