Bloomberg calls him an ‘unreliable boyfriend’
On April 16, the OIS made had priced in a 96% chance of a Bank of England rate hike on May 10. On the heels of an abysmal run of economic data, it’s fallen to nearly zero.
Stop me if you’re heard this story before.
Almost since taking office at the Bank of England, Mark Carney has been overly hawkish only have to walk it back time and time again. The Mansion House speech was the most-infamous example.
Now Bloomberg is piling on and highlighting his “classic policy mistake.”
“[The BOE] pressed on the brakes without waiting to see if the acceleration was real. This choicewas particularly puzzling given the extreme uncertainty hanging over the British economy on the eve of Brexit,” they write, adding that he’s cemented his reputation as an ‘unreliable boyfriend.’