Additional comments from Bank of England Governor Mark Carney continue to cross the wires as he responds to questions on the Financial Stability Report.
- Disorderly Brexit would be a supply shock, totally different type of hit to those suffered by other advanced economies.
- BoE would be faced by real challenge on rates.
- Determining size and persistence of supply shock in no deal Brexit would be hard for BoE.
- All things equal, sharp supply shock likely to be inflationary.
- MPC cannot ignore mandate to control inflation after Brexit.
- Probability of no deal Brexit has increased over time.
- Cutting interest rates after a disorderly Brexit would not allow a UK bank to operate in EU.
- We are not giving advice to UK lawmakers on Brexit.
- BoE is trying to reassure people about Brexit, not scare them.
Source: Reuters.
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