The Governor of the Bank of England, Mark Carney, has a new ‘spring in his step’ and he is back on the pontification trail.
There is no question that he speaks eloquently, and he is quite handsome to boot, but his record, to date, of being a forecaster of economic trends in the UK has been pretty abysmal.
The most recent and notable ‘gaffe’ was to predict that the trigger for an interest rate rise was when unemployment reached 7% and this was 18 months ago. In reality unemployment reached well below 7% within 4 months and he had to backtrack on this – smartly. Continue reading