Bank of England Governor Mark Carney is now delivering his remarks on the monetary policy outlook in a press conference.
Key quotes (via Reuters)
- UK households resilient to a Brexit that has not yet happened.
- Financial markets are hedging their bets against Brexit downsides, sterling risk reversals building.
- Pay growth does not need to be as high as its pre-crisis average for unit labour cost growth to be consistent with inflation target.
- Whatever happens after Brexit, monetary policy will act to ensure price stability and, subject to that, support economy.
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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.
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