Public relations minefield or move to greater transparency? Companies and governments hosting question and answer sessions over the social media site Twitter have had their fair share of mishaps over the years, but that didn't dissuade the Bank of England (BoE) Friday.
Spencer Dale, the executive director and chief economist at the central bank took one hour out of his schedule to answer questions from the public on Friday morning. Twitter users were invited to send questions using the hashtag #AskBoE.
Dale, responsible for the monetary analysis and statistics divisions, also sits on the Monetary Policy Committee which voted last week to keep its benchmark rates unchanged, sticking to its commitment to keep interest rates steady while unemployment remains high. During the session Dale said that he thought it was "very unlikely" that the Bank would raise its main interest rate in 2014. "We need to see sustained period of strong growth," he said.
(Read More: Bank of England 'vigilant' on UK house prices)
By the end of the session, Twitter had responded to the Bank's request with a plethora of weird, wonderful and the more serious questions on the U.K. economy.
The two main topics on people's minds were the forward guidance policy given by the Bank back in August and concerns over the government's "Help to Buy" mortgage guarantee scheme.
Carney announced on August 7 that the central bank will not raise interest rates until U.K. unemployment hits 7 percent. He also gave three other conditions or "knockouts" which would stop the BoE from changing rates: above-target inflation; unanchored medium-term inflation expectations and any threat to financial stability.