Bank of England likely to help economy after no-deal Brexit: Carney

LONDON (Reuters) – Bank of England Governor Mark Carney said on Tuesday he expected the British central bank would provide more support for the economy in the event of a no-deal Brexit.

Carney said the BoE’s interest-rate setters had stressed that their response to the shock of a no-deal Brexit would not be automatic.

“As my colleague Gertjan Vlieghe has noted, that does not necessarily mean that, in the event of a no-deal, no-transition scenario, either direction of policy is equally likely,” Carney said in an annual report to lawmakers.

“Given the exceptional circumstance associated with Brexit, I would expect the Committee to provide whatever monetary support it can consistent with the price stability remit given to the Committee by Parliament. But there are clearly limits to its ability to do so.”

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.