BoE gov Bailey: Climate issues are coming right into the monetary policy horizon

Ross J Burland FXStreet

The Bank of England's governor, Andrew Bailey, says that the recent EU announcement on clearing was a sign that they can work constructively together after Brexit.

He also added that climate issues are coming right into the monetary policy horizon.

Market implications

The Bank of England website states, ''climate change creates financial risks and economic consequences. These risks and consequences matter for our mission to maintain monetary and financial stability.''

While this has very little to do with UK interest rates or the value of the pound, the BoE will take the climate impact of issuers (corporate bonds) into account while still meeting their monetary policy objectives.

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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