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Beecroft on Carney, inflation and the big risk to Britain

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July 15, 2014 bank of england, beecroft, boe, britain, britain cpi, bubble, carney, cpi, economics, economy, gbp, gbpusd, gdp, governor, growth, house price, house price inflation, housing, housing recovery, inflation, london, macro, mark, mark carney, markets, medium, mps, nick, nick beecroft, parliament, pound, recovery, reputation, risk, saxo, saxo bank, saxo capital markets, saxo tv, sterling, tradingfloor.com, uk, uk economy, uk parliament, uk recovery
Inflation in Britain has unexpectedly risen to 1.9 percent; we were expecting a rise of 1.6%. The figures were released as it also emerged that house prices in the UK shot up by more than ten percent in the year to May. It was double that figure in London.
The news came as Mark Carney, the Bank of England Governor, was grilled by British members of parliament. He told them there were no plans to introduce further measures to cool the market. Nick Beecroft, the Chairman of Saxo Capital Markets, doesn't think we should be too concerned about house prices just yet even though Carney said they were a major risk to growth in the medium term. He also says that Mr Carney needs a "good few months" to restore what he calls his enormously good reputation which has been somewhat dented by his first year in office.