BoE's Carney: Biggest external risk to global economy is China
|As the House of Lords' testimony continues, Bank of England's Governor Mark Carney stated that by spring, he expects to see inflation of 1.5 - 1.8 pct and highlights that the biggest external risk to the global economy is China.
More headlines (via Reuters):
- Expects basel to substantially reduce impact of new operational risk capital rules
- Relatively quickly we will see effects of Sterling depreciation on inflation
- Important to say that judgement on whether to look through currency effects is a trade-off, there are limits to willingness to look through inflation overshoots
- Sterling is undoubtedly something we will take into account with next week's forecasts and policy decision
- Chinese authorities have been doing an "exemplary job" in managing its economy's challenges
- Says need to recognise gradual reduction in sustainable level of growth in China
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