Bank Of England to monitor social networks via ForexLive

I've always said what a good bloke that Mark Carney is. (Just for the record).

Nah, its not that sort of monitoring:

• The Bank of England has set up a group to monitor the internet and social networks for early signs of Britain's economic ups and downs
• Set up by the Bank's chief economist, Andy Haldane
• Will explore how new unconventional sources of data could improve its picture of Britain's recovery
• In an interview with Sky News, Mr Haldane said that the Bank had started to explore using unconventional data, including data gleaned from analysing internet activity, after it found that it could be more timely than the official data

posted via ForexLive