Mark Carney Addresses Critics Of Low Interest Rates

Mark Carney delivered a speech in Nottingham, highlighting the contrast with London and emphasizing that interest rates will not rise until unemployment falls below 7%. Despite his assurances, markets are skeptical, leading to rising mortgage rates. Carney aims to communicate directly with the public, but economic uncertainty persists. He outlined three key points: potential for more stimulus, low probability of rapid unemployment decline, and banks holding diverse assets. The speech indicates a struggle between the Bank of England and financial markets.

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