Bank of England’s Carney says challenge for monetary policy globally is to provide enough stimulus while powerful forces push down on equilibrium interest rates.
Key comments
- Says risk of a global liquidity trap means central banks cannot be the only policymakers who do “whatever it takes”.
- Says clear gains would come from coordination with other public policy, including fiscal policy.
- Says biggest gains for world economy would come from reduced trade tensions.
- Says climate crisis is existential, every financial decision must take it into account.
- Says u.s. dollar repo volatility shows there are still financial market frictions to address.
- Says his remarks should not be read as a signal for thursday’s boe interest rate decision.
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