– Hugo Dixon is a Reuters Breakingviews columnist. The opinions expressed are his own –
The Great Debate UK
– The author is a Reuters Breakingviews columnist. The opinions expressed are his own –
Critics might say the UK’s inflation target is just for fun. Consumer prices were 3.4 percent higher in March than in the previous year, well above the 2 percent target rate, but the Bank of England will do nothing at all.
By Ian Campbell
LONDON, April 13 (Reuters Breakingviews) – Gordon Brown says his Labour party will “secure the recovery” if it wins the UK election in May. The opposition Conservatives would kill the upturn, he says. Brown is right in one sense: the “recovery” can easily be broken. But only because it is so fragile in the first place.
Central bankers' speeches tend to be dry affairs. For this reason alone, Andrew Haldane's latest thoughts on the financial crisis deserve attention. In a discussion about size in banking, the Bank of England's executive director in charge of financial stability makes reference to the structure of al Qaeda, the limits of Facebook friendship, and the world domino-toppling record. Rhetorical flourishes aside, Haldane's comments contain a serious message: regulators are thinking increasingly radical thoughts about tackling big banks.
- Mark Bolsom is the Head of the UK Trading Desk at Travelex, the world’s largest non-bank FX payments specialist. The opinions expressed are his own.-