Five suggestions for Mark Carney on first day at BoE

Can the 'rock star' Canadian overcome bank's 'stodgy' culture and revitalise the UK economy?

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MARK CARNEY begins his new job as Bank of England governor today and there's no shortage of people offering advice to the 'rock star banker'. But what challenges will the 48-year-old Canadian face as he settles in behind his new desk in Threadneedle Street? He has to get used to the BoE's way of doing things. Carney would have realised he has entered a different world the moment he was ushered past the bank's doormen, who wear top hats and pink jackets. The BoE can appear to outsiders a "rather stuffy, old-school institution", says the BBC. David Blanchflower, a former member of the bank's Monetary Policy Committee (MPC), describes the atmosphere as "stodgy" and says unwritten rules such as not removing your jacket at meetings unless the governor does so will be alien to Carney. "Whether he adapts to the Bank's culture or it adapts to him will be important. No doubt a balance will be struck, but Blanchflower believes the new governor will have to draft in his own people and 'start cracking heads'," the BBC adds.

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