Pursuits
Carney Opens Lehman Playbook at Bank of England
- BOE to decide on rates Wednesday with announcement Thursday
- Most economists forecast benchmark rate will be cut to 0.25%
Is a BOE Rate Cut on the Horizon?
This article is for subscribers only.
Mark Carney looks poised to repeat a strategy that served him well during the global financial crisis.
As the Bank of England governor seeks to stave off any turmoil after Britain’s decision to quit the European Union, he has cited his experience at Canada’s central bank in 2008 as a guide. Acting early to prevent a deeper downturn became the hallmark of his approach in the prelude to the international slump, a perspective he can bring to the Monetary Policy Committee’s debate this week on whether to cut interest rates.