Following today’s hearing, the Treasury Committee confirms Dr Mark Carney’s appointment as the Governor of the Bank of England.
The Committee wishes Dr Carney every success for his term as Governor, and looks forward to its future meetings with him, including the regular evidence sessions it holds with the Monetary Policy Committee and the Financial Policy Committee.
The Committee will report in due course to the House its views on some of the issues raised in the meeting with Dr Carney.
Mr Andrew Tyrie's Comments
The British debate on monetary and financial policy is in a different place today.
Dr Carney has said that he wants a short, sharp debate on monetary policy in the UK. His evidence touched on a wide range of reforms he feels are worth considering. It is clear that he wants a lot of communication with the wider public to take place on it, too.
Dr Carney also set out his preference for distinctive, consensus-based leadership. That will determine whether there is any meaningful change of culture in the Bank.
He has begun as I hope he continues, providing forthright and detailed evidence, orally and in writing, in response to our requests.
I welcome his agreement that the Bank will comply with reasonable requests from the Treasury Committee for information and for retrospective reviews to be conducted. This is a step forward.
Dr Carney has inherited a new set of lines of accountability, byzantine in its complexity. He said he will apply his consensual style to making it work. It wouldn’t surprise me if he concludes after a time that it needs some rationalisation.