B of E Governor

[Spet0789]

The government had to search high and low for a Brexiteer to run the BoE. He was the best they could manage.

[Nimrod103]

The government had to search high and low for a Brexiteer to run the BoE. He was the best they could manage.

You have evidence of where he stood on the subject in 2016? AIUI since his appointment as Guvna of the BoE he has been a supporter of the Govt line on life outside the EU, which is probably what it says in his contract of employment.
Anyway, as has been pointed out, the interest rate is not determined solely by him, but by a vote in committee. Indeed the newest member of the MPC is a vociferous pro Remain US citizen. I look forward to her advocating the US joining the EU in the near future.

[Mike4]

The government had to search high and low for a Brexiteer to run the BoE. He was the best they could manage.

You have evidence of where he stood on the subject in 2016? AIUI since his appointment as Guvna of the BoE he has been a supporter of the Govt line on life outside the EU, which is probably what it says in his contract of employment.
Anyway, as has been pointed out, the interest rate is not determined solely by him, but by a vote in committee. Indeed the newest member of the MPC is a vociferous pro Remain US citizen. I look forward to her advocating the US joining the EU in the near future.

He IS a member of that committee though. How did he vote?

[Spet0789]

The government had to search high and low for a Brexiteer to run the BoE. He was the best they could manage.

You have evidence of where he stood on the subject in 2016? AIUI since his appointment as Guvna of the BoE he has been a supporter of the Govt line on life outside the EU, which is probably what it says in his contract of employment.
Anyway, as has been pointed out, the interest rate is not determined solely by him, but by a vote in committee. Indeed the newest member of the MPC is a vociferous pro Remain US citizen. I look forward to her advocating the US joining the EU in the near future.

It was widely reported at the time of his appointment.

[Nimrod103]

You have evidence of where he stood on the subject in 2016? AIUI since his appointment as Guvna of the BoE he has been a supporter of the Govt line on life outside the EU, which is probably what it says in his contract of employment.
Anyway, as has been pointed out, the interest rate is not determined solely by him, but by a vote in committee. Indeed the newest member of the MPC is a vociferous pro Remain US citizen. I look forward to her advocating the US joining the EU in the near future.

It was widely reported at the time of his appointment.

Couldn’t find anything in his Wikipedia entry.

[Spet0789]

It was widely reported at the time of his appointment.

Couldn’t find anything in his Wikipedia entry.

Well that settles it!

[Nimrod103]

Couldn’t find anything in his Wikipedia entry.

Well that settles it!

I was just keen to see your evidence of which side he supported in 2016.

That he might be a supporter of Brexit now is likely to fit with his alleged character as a time server without ideas of his own doing what he is told by the Government.

[Wuffle]

People are only ever 'stuck in traffic'.
Their contribution to the problem is never considered. Ever.
The contribution of a largely retired collective (skilled at that) to a labour / skill shortage induced wage / price spiral might be worth considering.

W.

[Dod101]

Having started this thread, I am keen to follow it but I must confess it seems to be getting lost.

The Governor of the B of E has an instruction/duty to maintain inflation at or below 2%. That duty was passed to him by Gordon Brown in an attempt to keep the setting of Base Rate free of political interference. The B of E has failed in that duty for the past several months and what is more failed in trying to foresee where the economy is going and so taking the correct action. He is anything but an inspiring figure and most of the time looks smug and self satisfied for no good reason. He was an unimpressive financial regulator and his contract gives him another 5 years in post.

I think the time has come for a serious talk with him as I think he may have broken the terms of his contract or to see if he can otherwise be removed even if it means throwing money at him. He is quite hopeless. His views on Brexit are surely irrelevant.

Dod

[Spet0789]

Having started this thread, I am keen to follow it but I must confess it seems to be getting lost.

The Governor of the B of E has an instruction/duty to maintain inflation at or below 2%. That duty was passed to him by Gordon Brown in an attempt to keep the setting of Base Rate free of political interference. The B of E has failed in that duty for the past several months and what is more failed in trying to foresee where the economy is going and so taking the correct action. He is anything but an inspiring figure and most of the time looks smug and self satisfied for no good reason. He was an unimpressive financial regulator and his contract gives him another 5 years in post.

I think the time has come for a serious talk with him as I think he may have broken the terms of his contract or to see if he can otherwise be removed even if it means throwing money at him. He is quite hopeless. His views on Brexit are surely irrelevant.

Dod

I completely agree with his hopeless record at the FCA. They could have done a far better job of protecting consumers by coming in every Monday morning, Googling “high return investments U.K.” or similar and investigating the top 5 hits.

His views on Brexit are a measure of his competence as an economist. Setting aside the sovereignty point (which I know is important for many Brexiteers), any economist who didn’t vehemently oppose it is by definition hopeless.

In my view, one of the biggest factors in the pathetic performance of U.K. institutions over the past few years has been that for many jobs, a positive or at least neutral view on Brexit has been a requirement for top jobs. Simon Case, David Frost, Andrew Bailey, Dominic Raab, Nadine Dorries, Suella Braverman, Jacob R-M. The list goes on. Basically we have been deliberately selecting the arrogant or ignorant to run the country. The consequences are no surprise.