Mark Carney: The spectre of monetarism

Text of the Roscoe Lecture by Mr Mark Carney, Governor of the Bank of England and Chairman of the Financial Stability Board, John Moores University, Liverpool, 5 December 2016.

The views expressed in this speech are those of the speaker and not the view of the BIS.

The Governor discusses the role of monetary policy in the midst of a technological revolution, and the underlying causes and consequences of weak real income growth and inequality. He sets out a way forward with three priorities for managing the forces of innovation and globalisation so that they work for everybody, and concludes on the current outlook for monetary policy.