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Saturday, May 20, 2017
Carney Largely To Blame.
Don Wood, Howden.
MARK Carney, governor of the Bank of England, has once again been
spreading his tales of gloom and doom about the economy and, of course, blaming
it all on Brexit.
He, of course, omits to tell us the real reason for the rise in inflation
and the resulting rise in prices.
This is because shortly after the referendum vote when the pound was
already recovering, Mr Carney, in an attempt to damage Brexit, cut the BoE base
rate from the already stupidly low 0.5 per cent to 0.25 per
This resulted in everyone selling the pound, causing its value to fall,
and the knock on effect of inflation rising causing a rise in the price of
Mr Carney alone is responsible for this and no one else. In keeping the
base rate at such low levels, he is also creating a personal debt mountain as
people borrow more than they can pay back.