New Bank of England boss warns there is no quick fix

Speaking at the Davos World Economic Forum yesterday, Mark Carney, the Canadian who becomes Governor of the Bank of England in July, said that “there is not an ability of central banks to take all these risks out”. The statement plays down any expectation that he can help extract Britain quickly from its economic quagmire.

However, Mr Carney rejected suggestions that the Bank’s policy, which has focused on low interest rates and money printing, had “maxed-out”. And, in the face of news that GDP shrank by 0.3 per cent in the last quarter of 2012, threatening a triple-dip recession, he pledged to maintain economic stimulus and asserted that “all major economies” had ways of returning to health.

The Canadian was considered to have taken a veiled swipe at the present

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Source:
http://www.news.ezonearticle.com/2013/01/27/new-bank-of-england-boss-warns-there-is-no-quick-fix/