With Mark Carney stepping down from his role as governor of the Bank of England in 2019, it’s been widely reported that relations between Carney and Theresa May are strained. As James Forsyth writes in The Spectator, the Prime Minister managed to rub Carney up the wrong way with her Conservative conference speech when she appeared to criticise central banks and citizens of the world.
At today’s Treasury select committee, Carney denied that May’s comments played a role in his decision to extend his contract by just 12 months. He did, however, appear to take a swipe at May over her choice words. When Andrew Tyrie — the committee chair — pointed out that May and Donald Trump shared common ground in their criticism of banks, he replied that politicians who complain about low rates in central banks are guilty of a ‘massive blame deflection exercise’:
‘It’s very important to distinguish between the stance of monetary policy and the reasons why global interest rates are low, the reasons why inequality has increased across major economics.
Britain’s best politics newsletters
You get two free articles each week when you sign up to The Spectator’s emails.
Already a subscriber? Log in
Comments
Join the debate for just £1 a month
Be part of the conversation with other Spectator readers by getting your first three months for £3.
UNLOCK ACCESS Just £1 a monthAlready a subscriber? Log in