Carney Speech: BOE would reassess economic outlook if there is clarity on Brexit

Eren Sengezer FXStreet

On Thursday, the Bank of England has decided to raise interest rates by 25 bps for the first time in more than a decade. Governor Mark Carney is now delivering his remarks on the policy outlook, with key quotes, via Reuters, found below.

Households are generally well positioned for a rate rise.

Company balance sheets are generally in strong shape.

Gently rising rates are consistent with inflation falling back over the next year and approaching target by end of forecast period.

BOE would reassess economic outlook if there is clarity on Brexit.

Key notes

The Bank of England hikes Bank rate by 0.25% with 7 MPC members backing the move.

The Monetary Policy Committee of the Bank of England decided to increase the Bank rate by 25 basis points to 0.50% with the majority of 7 members of the MPC backing the decision.

EUR/GBP surges to 0.89 handle post-BoE announcement.

The EUR/GBP cross extended its recovery move and surged to fresh weekly tops, around the 0.8900 handle following the highly anticipated BoE decision.

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.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

EUR/USD remains offered below 1.1600, seems vulnerable near multi-month low

The EUR/USD pair struggles to capitalize on the overnight bounce from the 1.1530 region, or the lowest level since November 2025, and lower for the third consecutive day on Wednesday. Spot prices slide back below the 1.1600 mark during the Asian session and seem vulnerable to slide further.

GBP/USD slips below key averages as geopolitical risks mount

GBP/USD fell about 0.35% on Tuesday, settling around 1.3350 after slipping below the 200-day Exponential Moving Average for the first time since early December. The pair has pulled back sharply from its late-January high near 1.3870, shedding over 500 pips in a series of lower highs and lower lows.

Gold rebounds ahead of US ADP, will it last?

Gold finds renewed Asian bids and retests $5,230 early Wednesday after the heavy sell-off on Tuesday. The US Dollar stands tall amid escalating Middle East tensions and reduced dovish Fed expectations. Gold defends $5,000 or 50% Fibo level after facing rejection at the 78.6% Fibo resistance at $5,342 amid bullish RSI.