Bank of England's new governor starts work

New Bank of England governor starts work amid high expectations

Associated Press
Bank of England's new governor starts work

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Mark Carney, the new Governor of the Bank of England, attends a monetary policy committee (MPC) briefing on his first day on the job inside the central bank's headquarters in London Monday July 1, 2013. (AP Photo/Jason Alden/Pool)

LONDON (AP) -- Canadian Mark Carney, the first non-Brit to run the Bank of England in its 319-year history, has started work amid hopes that he can help revive the economy.

Carney beamed as he arrived by underground before 7 a.m. on Monday. Looming on his agenda is a Monetary Policy Committee later this week. The nine committee members will discuss whether to expand a stimulus plan that has pumped 375 billion pounds ($579 billion) into the economy since 2009.

The economy is still struggling. It grew just 0.3 percent in the first quarter this year compared with the previous quarter.

The 48-year-old has been lauded for steering Canada through the 2008 financial crisis and for overseeing the fastest recovery of any G-8 country.

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