Central banks not to blame for global inequality, Carney tells MPs

Bank of England governor Mark Carney has taken a swipe at politicians in the US and UK who have attacked central bank policies, branding it a "massive deflection exercise".

Mr Carney told MPs that central banks were not to blame for low interest rates and global inequality.

It comes after President-elect Donald Trump took aim at the US Federal Reserve, and follows criticism by Prime Minister Theresa May who has claimed the Bank's easing efforts were disproportionately hurting savers while benefiting the asset-rich.

"The last two are caused by much more fundamental factors and an excessive focus on monetary policy in many respects is a massive deflection exercise," he told the Treasury Select Committee.