It is still very early days to judge the coronavirus’ impact on the economy and the financial spillover looks containable, Bank of England (BoE) Governor Mark Carney said on Tuesday while testifying before the Economic Affairs Committee.
“After Brexit, the UK will look to tailor risk weights for lending to facts on the ground in the UK,” Carney added. “It’s striking how low the UK mortgage interest rates have fallen and only now are we seeing a pick-up in demand.”
About Mark Carney
Mark Carney is Governor of the Bank of England and Chairman of the Monetary Policy Committee, Financial Policy Committee and the Board of the Prudential Regulation Authority. His appointment as Governor was approved by Her Majesty the Queen on 26 November 2012. The Governor joined the Bank on 1 July 2013.
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