Carney speech: Monetary policy can be more nimble than fiscal policy

Following the Bank of England's decision to keep its policy rate unchanged at 0.75%, Governor Mark Carney is responding to questions from the press with key quotes, via Reuters, found below.

"Monetary policy can be more nimble than fiscal policy."

"Fiscal policy is an upside risk to UK growth outlook."

"Temporary factors are the biggest driver of expected short-term fall in UK inflation."

"We would look through temporary factors lowering inflation."

"If downside risks emerge to UK economy, there may be a need to provide reinforcement but this is not pre-committing."

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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.