Bank of England’s Carney to George Osborne: Bank may need to adjust regs

The full letter is available here:

Governorletter110815

Bloomberg’s summary:

Bank of England Governor Mark Carney said some rules imposed by bank regulators in response to the financial crisis may hamper short-term economic growth and officials will review their policies later this year.

The BOE’s Financial Policy Committee “recognizes that action to increase resilience may in some circumstances have a short-term effect on growth, even when that action will make a positive contribution to growth in the medium and longer term,” Carney wrote in an Aug. 11 letter to Chancellor of the Exchequer George Osborne.

The Bloomberg article is available at http://www.bloomberg.com/news/articles/2015-08-11/carney-says-financial-regulation-may-hinder-short-term-growth

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