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Carney wants central banks to say it like it is

by - Economics Editor

Mark Carney is obviously not a fan of central banks, such as the Bank of England and especially the European Central Bank, using code words.

He says this does not help us understand why decisions are made.

Incoming Bank of England Governor Mark Carney
Incoming Bank of England Governor Mark Carney will start his new job next June Credit: www.bankofcanada.ca

Carney outlines his achievements - but not his new job

by Jess Brammar - ITV News Economics Producer

The next Governor of the Bank of England, Mark Carney, is giving a speech in Canada.

The introduction to the speech listed his many, many achievements and roles - but did not mention his new job in London.

Mark Carney gives a speech in Canada
Mark Carney gives a speech in Canada Credit: www.bankofcanada.ca

Carney has said openness from central banks equals households and businesses that understand the actions and aims of bank, which leads to more confidence in

the financial future.

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Osborne: We have the best person in the world

Chancellor George Osborne said the new Governor of the Bank of England, Canadian banker Mark Carney was "the outstanding central bank governor of his generation." He said:

"My responsibility was to get the best person in the world to do this job, and in Mark Carney we have got that person. It is a great thing for Britain."

Blanchflower: BoE Governor job is 'too big for one person'

Former Monetary Policy Committee member David Blanchflower has told ITV News that the role of Bank of England Governor is "too big for one person."

"It certainly looks like it's too big for one person - it's been hard enough to just control the Bank of England and the FSA," he said.

"We have someone here who is highly-skilled at both regulation and monetary policy, but they're presumably going to have to set up a bureaucratic structure with lots of deputies to deal with it."

He said the hiring of Mark Carney is "clearly a very high-quality appointment."

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