Carney’s non-resignation

In Emerging Markets, when a new political regime comes to power by fair means or foul, they are often wise enough to keep the incumbent finance minister and central bank chief in place to ensure stable access to capital markets and to maintain international investor confidence.

The hardcore Brexiteers in the new cabinet got rid of the incumbent Chancellor and seemed to line up their sights on Britains’ suave Central Bank chief too. While the UK is not an emerging market, after a shock as big as Brexit, the same rationale applies: In a post-Brexit world, we need more, not less, certainty. Thankfully that Carney held is head and non-resigned.

NOTICES: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it.

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Photo credit: Nick Sladek; Chart credit: N/A; Table credit: N/A

Comments

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