"Part of the point is to ensure that as the economy gains traction, stimulus will continue to be provided appropriately"
- Mark Carney, current governor of the Bank of Canada
The next two years are going to be decisive for bank reform, thinks the incoming governor of the Bank of England Marc Carney. Carney, who is going to take over the Bank of England in July, also mentioned there is still room for more monetary stimulus around the world if needed, and that the central banks can be flexible in meeting inflation goals. Last week, current Bank of England Governor Mervyn King claimed that it is sensible to review monetary policy arrangements and, in case of unregulated financial activities, the 2008 crisis may be repeated. Carney will be questioned by the U.K. lawmakers on the BOE's quantitative easing programme on February 7.
"The next two years will be decisive on ending 'too big to fail' [for banks] and addressing shadow banking and over-the-counter derivatives, that absolutely amplified the last crisis - and will do so again if we don't complete our agenda," Mark Carney, current governor of the Bank of Canada, told an audience at the World Economic Forum in Davos.
"Part of the point is to ensure that as the economy gains traction, stimulus will continue to be provided appropriately."
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