SEX, DRUGS AND ROCK'N ROLL, OLD LADY?

The Old Lady of Threadneedle Street or Bank of England
(Image: Wikipedia)

When new Governor of the Bank of England Mark Carney travelled by public transport (Well done Sir!) for his first day at work last Monday, the media depicted a "rock star banker" who, it had to be said, looked more than a little baggy under the eyes. However, it seems that Mr Carney was recovering not from a weekend of Sex, Drugs and Rock'n Roll at Glastonbury (for whose gathering this year he was probably a key demographic) but a weekend game of cricket organised by his new employer: at which he was only a spectator, incidentally.

Nevertheless, a working week that had began with Mr Carney looking somewhat downbeat ended with a stock market roll, when the Old Lady of Threadneedle Street agreed to maintain interest rates and quantitative easing (or pumping £375billion into the UK economy) for her new suitor. Still, relationships which begin on a high can still end on the rocks, and many will be wondering whether Mr Carney's rock star credentials carry the financial prudence of Mick Jagger, or a penchant for pleasing political mistresses of all parties. The fact that the new Bank of England Governor is sweetheart to both George Osborne and Ed Balls - I jest not! - may also set many wondering whether the addictive rhythm of boom and bust which has so dominated the British economy is indeed here to stay.