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New Bank of England governor starts work amid high expectations
LONDON – Canadian Mark Carney, the first non-Brit to run the Bank of England in its 319-year history, has started work amid hopes that he can help revive the economy.
Carney beamed as he arrived by underground before 7 a.m. on Monday. Looming on his agenda is a Monetary Policy Committee later this week. The nine committee members will discuss whether to expand a stimulus plan that has pumped 375 billion pounds ($579 billion) into the economy since 2009.
The economy is still struggling. It grew just 0.3 per cent in the first quarter this year compared with the previous quarter.
The 48-year-old has been lauded for steering Canada through the 2008 financial crisis and for overseeing the fastest recovery of any G-8 country.
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