U.K. Fiscal Spur Urged by Ex-BOE Officials as Carney Hits Limits
- Bean, Barker, Goodhart say Hammond better placed post-Brexit
- Bank of England due to announce latest decision on Thursday
Would a BOE Rate Cut Prevent a Recession?
This article is for subscribers only.
The Bank of England’s limited scope to bolster an economy reeling from the Brexit vote puts the onus on new Chancellor of the Exchequer Philip Hammond and his fiscal plans.
That’s the view outlined on Tuesday by three former BOE policy makers, including Charlie Bean, who was deputy governor for monetary policy until 2014. As Governor Mark Carney prepares to outline plans to tackle the fallout from the decision to quit the European Union, Bean, Kate Barker and Charles Goodhart questioned how much impact central-bank stimulus could have.