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Mark Carney's blue-sky take on interest rates misses clouds on the horizon
Forget the financial turmoil in China and around the world. When it comes to the UK, Mark Carney would have us believe he remains in charge. The Bank of England governor gave a robust defence on Saturday of his position as the UK’s most influential policymaker. That means base interest rates are still going up, perhaps in February or thereabouts, and will be on course to touch 2% by 2018. It was a bold attempt to face down economists and City analysts who argue that Carney is largely impotent as the aftershocks of the 2008 crash continue to play themselves out. They see him as having little choice but to sit on his ... (full story)