He is right about the quality of the recovery before increasing interest rates, too many factors to consider, such as under employment and zero hours contracts. A wait and see policy is sensible until the economy recovers properly.
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| Quote: Asked if he was concerned about the very fast-spiralling London property market, Mr Carney said: "Much of what's driven in London, of course, is not mortgage-driven but is cash-driven. "It's driven, in many cases, by foreign buyers. We, as a central bank, can't influence that. "We change underwriting standards - it doesn't matter, there's not a mortgage. We change interest rates - it doesn't matter, there's not a mortgage, etc. | |
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Its all those Greeks, Italians, Ukrainians, Chinese, Brazilians, Singaporeans and Turks who are hiding their money.
