Carney's questionable commitment to rate cuts

WHEN the theatre is burning, it is generally a bad idea for the head of the fire department not only to shout "Fire!", but also to say that he intends to fan the flames when the fire gets worse.

Yet, that is precisely what Mark Carney, the governor of the Bank of England, appears to have done in the immediate aftermath of the UK's vote to leave the European Union. In a speech last Thursday, he indicated that he expects the UK economy to weaken substanti…