Welcome to zombie Britain Mr Carney

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A slight improvement in the UK’s economic outlook cannot mask the challenges facing the BoE’s new governor.

On July 1, Canadian Mark Carney took his seat as the 120th governor of the Bank of England and the Old Lady’s first foreign governor in its 319-year history.

He arrives at a time when the macro data is improving, the economy is seemingly heading in the right direction.

That’s the good news. The bad news is that he will find a household sector riddled with debt and overly leveraged...