Economy

xchrom

(108,903 posts)

25. Carney’s Hawkish Turn Seen Setting Fashion for Yellen

Mon Jul 7, 2014, 06:46 AM

Jul 2014

http://www.bloomberg.com/news/2014-07-07/carney-s-hawkish-turn-seen-setting-fashion-for-yellen.html

Mark Carney was hailed as a fashion icon by the British media in his first months as governor of the Bank of England.

The cut of his dark-blue suits won praise as did his casual wear when he was photographed in shorts and a polo shirt at a music festival. Even a bag he picked up for free at an international conference was described as a killer accessory.

The Canadian is emerging as a trendsetter in monetary policy too. An increase in U.K. interest rates “could happen sooner than markets currently expect,” he announced last month.

That lurch toward the hawkish sent the pound climbing and prompted economists to revise their forecasts, with some expecting higher U.K. borrowing costs as soon as November.

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