Why Carney and Draghi are poles apart on policy

The European Central Bank and the Bank of England are facing starkly different policy dilemmas.

Mark Carney and Mario Draghi are fortunate men. Although things may appear difficult now, they could be much worse. War in Iraq, Syria and eastern Ukraine have the potential to send oil and gas prices shooting up, sharply increasing inflation and putting yet more pressure on battered Western economies. But this has not yet happened; Carney and Draghi should share a strong sense of relief.

This, however, is about all they share, for they face very different policy dilemmas.

BoE steering an unwieldy vessel

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