Bank of England Governor Mark Carney is delivering his remarks on the monetary policy outlook in a press conference with key quotes, via Reuters, found below.
- Economy as whole not yet prepared for no deal Brexit.
- The fog of Brexit is creating tension in financial markets, causing short-term volatility in economic data.
- Increasing evidence that businesses building up stockpiles as Brexit contingency planning.
- It would be remarkable if current level of sterling is consistent with final Brexit outcome.
- Cannot predict path of monetary policy after Brexit.
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GBP/USD plummets to mid-1.2800s, 2-1/2 week lows post-BoE.
The bearish pressure surrounding the British Pound remained unabated, with the GBP/USD pair falling to 2-1/2 week lows, around mid-1.2800s post-BoE announcement.
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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