Speaking out ahead of MPC
The furore around Carney's Mansion House speech, where he appeared to signal that interest rates would rise earlier than the market thought, sent sterling soaring above $1.70 and rattled the markets. It later turned out he could have waited for the same thing to be expressed, less alarmingly, as part of MPC minutes released days later.
As Carney has admitted, it has surprised him how stubbornly low wage growth has remained. The changing dynamics of the U.K. labor market, with more "zero-hour" contracts and flexible working – and consequently more people who are not working as many hours as they would like, if you look at the recent underemployment statistics, may be to blame.
- By CNBC's Catherine Boyle