Michael Gove has become the latest senior Conservative to criticise the governor of the Bank of England, accusing Mark Carney of being intolerant of criticism and lacking in humility. Gove compared Carney to the Chinese emperor Ming whose “person was held to be inviolable and without imperfections” and whose critics were flayed alive. But on 18 October William Hague, the former foreign secretary, said central bankers could lose their independence if they ignored anger about low interest rates. William Hague attacks Bank of England over ultra-low interest rates Read moreGove, like Hague, raised the prospect of some kind of comeuppance for the governor. Ratesetters, led by Carney, cut borrowing costs to 0.25% in August and expanded its quantitative easing (QE) programme of buying up bonds to support economic activity.

Source: The Guardian October 21, 2016 10:42 UTC