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Carney Lays Out Vision to Revive Benefits of Globalization

  • World faces first lost decade since 1860s, BOE Governor says
  • He defends low interest rates as a consquence of global forces
Mark Carney

Mark Carney

Photographer: Chris Ratcliffe/Bloomberg
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Mark Carney launched a defense of globalization and set out a manifesto for central bankers and governments to boost growth and make the world economy more equal.

The Bank of England Governor said they must acknowledge that gains from trade and technology haven’t been felt by all, improve the balance of monetary and fiscal policy, and move to a more inclusive model where “everyone has a stake in globalization.”