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In hindsight, maybe forward guidance wasn’t such a great idea Add to ...

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Justin Bieber isn’t the only Canadian suffering embarrassment abroad this week. Mark Carney has grabbed attention at the World Economic Forum in Davos for admitting that the Bank of England’s forward guidance system might need to be shelved. It was a project that Mr. Carney spearheaded in his first meeting after taking over the helm on Threadneedle Street; confessing its failure just six months later is not just embarrassing, it’s dangerous.

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