Bank of England Governor Mark Carney is now responding to questions from the press with key quotes, via Reuters, found below.
- Hard to estimate precise magnitudes and timing of econ effects of no deal Brexit.
- Cannot comment on reports of Brexit financial services deal.
- Government has not recognised reports of EU financial services deal, nothing agreed until everything agreed.
- Faster wage growth will help real household incomes.
- Expects UK savings rate to be flat.
Bank of England leaves policy rate unchanged at 0.75% as expected.
In a widely expected decision, the Bank of England’s Monetary Policy Committee held the policy rate unchanged at 0.75% with a unanimous vote. The asset purchase facility remained steady at â‚¬435 billion as well.
EUR/GBP probes multi-day lows near 0.8800.
The positive sentiment around the British Pound remains well and sound for the second day in a row and is forcing EUR/GBP to recede to the vicinity of 0.8800 the figure.
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.