Carney admits plan to 'shake up the markets'

clock

Bank of England Governor Mark Carney has admitted his surprise Mansion House speech last month was deliberately designed to 'shake up the markets'.

In a hawkish mood that caught the industry by surprise last month, Carney said the market had become complacent about the prospect of interest rate rises sooner than expected. Asked by MP Jesse Norman at the Treasury Select Committee yesterday whether his comments has been deliberately designed to "shake up the markets", Carney replied, "absolutely".  > Read: BoE labelled 'unreliable boyfriend' as Carney cools rate rise talk < "We were concerned that markets were not reacting to a fairly long run of data that had been as expected, if not a little better, and there had not been a cha...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

UK election high on clients' radars as impact on finances is flagged

UK election high on clients' radars as impact on finances is flagged

Majority of advisers have been asked by clients about the financial impact

Isabel Baxter
clock 13 June 2024 • 1 min read
Inflation and financial planning — focusing on the bigger picture

Inflation and financial planning — focusing on the bigger picture

Well-informed advisers can better guide their clients through turbulent times

Adam Leci
clock 07 June 2024 • 5 min read
More than half of IFAs feel negative about a potential Labour govt

More than half of IFAs feel negative about a potential Labour govt

Advisers favour Conservatives when it comes to their clients and business

Isabel Baxter
clock 09 May 2024 • 2 min read