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Bank of England Governor Mark Carney is now delivering his remarks on the monetary policy outlook in a press conference.

Key quotes (via Reuters)

  • Pay settlements will rise further this year, agents’ reports suggest.
  • Limited and gradual tightening of monetary policy likely to be needed.
  • If bank rate stays at 0.75 pct, inflation will be above 2 pct for next 3 years.
  • MPC forecast continues to be based on relatively smooth Brexit transition.
  • Brexit talks now entering a critical period.
  • So far British households have been resilient to Brexit news.

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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.