Following the Bank of England’s decision to keep its policy rate unchanged at 0.75%, Governor Mark Carney is delivering his remarks on the monetary policy outlook in a press conference.
Key quotes
“Bank of England is not to blame for fall in UK growth potential.”
“Small UK businesses remain underserved by the banking system.”
“Forward guidance is part of the armoury of every major central bank.”
“Forward guidance is particularly relevant when equilibrium rates are low or at turning points for economy.”
“My January comments referred to MPC debate about whether there would be post-election bounce.”
“UK economy is so far good enough, data needs to fill in or additional stimulus likely to be required.”
Deputy Governor Broadbent: “Fall in UK growth potential half reflects reduced labour supply growth, half reflects worse productivity.”
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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