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British lawmakers praised Bank of Canada Governor Mark Carney after four hours of testimony to probe his suitability to be the next head of the U.K. central bank.
Treasury Committee Chairman Andrew Tyrie, from the ruling Conservative Party, paid tribute to Carney for being “extremely lucid and interesting” while the opposition Labour Party’s Andy Love said he had successfully shed his “rock-star image.” Carney, 47, was yesterday questioned on his pay, monetary policy and financial stability as he prepares to become the first foreigner to run the Bank of England since its founding in 1694.
Carney is poised to succeed Governor Mervyn King on July 1 as the economy teeters on the verge of its first ever triple-dip recession. As lawmakers probed what he plans to do about it, Carney’s replies centered largely on maintaining the status quo while adding more flexibility to the inflation target.
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