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(From Guardian Unlimited)
The head of Canada's central bank Mark Carney has been appointed as governor of the Bank of England , a move that surprised the City where many had expected Paul Tucker, one of the Bank's two deputy governors, to get the top job. Find out what economists and others made of the appointment.
Malcolm Barr, JPMorgan
We had thought Paul Tucker was a shoo-in, but we were wrong.
The fact that the Bank of Canada does not publish minutes or a voting record of its meetings makes it hard to place Carney as a dove or hawk relative to the views of others. Carney is generally seen as pragmatic and astute economist, rather than one with a predilection for one particular school of economic ideas. A recent speech on the merits of a flexible inflation targetting framework reads like one any member of the current UK MPC could have given.
On the regulatory side, Carney's role as chair of the Financial Stability Board suggests an individual cut from relatively orthodox cloth while working at the coal face of implementation on a range of issues. We suspect it is this sense of a combination of both monetary and regulatory attributes, plus a wish to refresh the leadership and culture at the BoE given its new …