BoE to give Carney more power

Britain’s next budget will give incoming BoE governor Mark Carney more power to loosen monetary policy, reports the Financial Times.

Chancellor of the Exchequer George Osborne will release the budget March 20, and is expected to review the BoE’s operations.

Read: It’s time to be more accountable: Carney

“Options include giving the Monetary Policy Committee greater time to bring inflation back to the 2% target, giving the BoE a Federal Reserve-style dual mandate to target both employment and inflation, and even targeting cash spending in the economy rather than inflation,” says the FT report.

Read: Carney grilled by UK lawmakers

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.