THE Governor of the Bank England has slammed Prime Minister Theresa May and told her to stop telling him how to do his job.
Mark Carney hit back at May after she suggested his policies had damaged the interests of savers, pensioners, and the young.
He has insisted he will resist any attempts by the Prime Minister to be involved in setting interest rates or policy.
Carney said: “Politicians have done a very good job of setting up the system.
“Where it can be difficult sometimes is if there are political comments on our policies as opposed to political comments on our objectives.
“The objectives are what are set by the politicians.
“The policies are done by technocrats.
“We are not going to take instruction on our policies from the political side.”
His remarks have followed May’s warning at the Tory conference in which she said printing money was creating “bad side effects” for the British people.
She added “change has got to come”.
Carney is said to have complained to the Chancellor Philip Hammond, who has advised May not to threaten the Bank’s independence.
Downing Street declined to comment last night but Government sources have allegedly said senior figures have voiced concerns about quantitative easing, which is the practice of printing money.
The row has come as Carney had warned that a fall in the pound because of Brexit will increase food prices and hit poor families hardest.
He has indicate that he will not hike up interest rates to ensure inflation doesn’t rise above the Government-set two per cent target.
He has said said he would be willing to let inflation “run a bit” higher if it safeguarded jobs and boosted growth.
No comments:
Post a Comment