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"Economic analysis: Carney Christmas Carol, but harder times ahead?"

Tap Miss Piggy's nose, for Evening Standard

"Mark Carney was in festive spirits in New York this week as he called on A Christmas Carol to paint a largely optimistic picture of the UK’s recovery prospects. After recent disappointments, the Bank of England Governor said:
"It seems reasonable to expect the hopes and dreams of the holiday season to be fulfilled."
"Carney's Dickensian adaptation of the three spirits that visited Scrooge set the scene: the Ghost of Christmas Present is a 'cheerful spirit' buoyed by good news but the Ghost of Christmas Past reminds us that the economy is a long way from normal.

"The Ghost of Christmas Yet to Come is a vision of 'aggressive' monetary policy, with low interest rates to entrench recovery, while the Bank uses levers such as recent tweaks to Funding for Lending to ward off a housing market pushing 'warp speed'.

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