Saxo Group Videos

Beecroft: Why Carney needs to "get a grip"

Mark Canry needs to "get a grip"; the words of Nick Beecroft, the Chairman of Saxo Capital Markets. Commenting on the Bank of England Governor's first year in office, Nick says he seems to be "all over the place", at the moment. Carney's been criticised for causing confusion among investors as far as his forward guidance on unemployment and interest rates are concerned.

Nick says he has no doubt that Mr Carney would welcome a period of serenity and to get out of the headlines. He also says that the need to raise rates sooner rather than later is pressing and he must stop the speculation and the "flip-flopping" in messaging.

Nick also comments on the strength of the pound. Speculation about interest rate rises have helped keep it high. However, he wonders whether September's referendum over Scottish independence will soon start rattling the markets.

02:11 minutes
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