Carney Backs Flexible Inflation Targeting in BOE Testimony
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Bank of England Governor-designate Mark Carney signalled a preference for combining flexible inflation targeting with policy guidance over a more sweeping overhaul of the U.K.’s monetary regime.
As the institution he will soon run was saying it would sustain stimulus, Carney told lawmakers in London today that taking longer to meet inflation goals if necessary was “superior” to refocusing on other aims and that providing insight into future policy can enhance its potency.