BOE Credibility Loss Stems From Carney Period: Sentance

The transcript discusses the Bank's credibility issues over time, highlighting three major mistakes: not raising interest rates significantly in the 2010s, excessive monetary stimulus during the pandemic, and a delayed response to inflation in 2021. The Bank's slow and timid approach to adjusting interest rates is critiqued, with economists warning of sustained inflation as early as mid-2021.

What were the three crucial mistakes made during Carney's governorship regarding interest rates?

Why was the decision to raise interest rates in the 2010s considered insufficient?

What impact did the monetary stimulus during the pandemic have on the economy?

What were the economists' views on the inflation surge during the summer of 2021?

How long did it take for the Bank to recognize the surge in inflation in 2021?