Carney could rescue UK monetary policy but not with more stimulus

Carney should change this. As the chief regulator, he should cut back capital requirements, or at least postpone them. As the banks come back to life, he can then junk the clumsy bureaucracy of the Funding for Lending scheme and the mortgage subsidy for first-time buyers. He will then need to tighten monetary policy as bank credit expands and recovery strengthens. All those bank reserves created by QE are like dry firewood waiting for a spark...

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Source: http://www.iea.org.uk/blog/carney-could-rescue-uk-monetary-policy-not-with-more-stimulus

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