Bank of England's new governor starts work
Jul. 01, 2013
LONDON (AP) — Canadian Mark Carney, the first non-Brit to run the Bank of England in its 319-year history, has started work amid hopes that he can help revive the economy.
Carney beamed as he arrived by underground before 7 a.m. on Monday. Looming on his agenda is a Monetary Policy Committee later this week. The nine committee members will discuss whether to expand a stimulus plan that has pumped 375 billion pounds ($579 billion) into the economy since 2009.
The economy is still struggling. It grew just 0.3 percent in the first quarter this year compared with the previous quarter.
The 48-year-old has been lauded for steering Canada through the 2008 financial crisis and for overseeing the fastest recovery of any G-8 country.