Carney speech: No-deal Brexit would be unwelcome for global economy

Eren Sengezer FXStreet

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. Below are some key quotes as reported by Reuters.

"Former Trump advisor Gary Cohn is wrong to say no-deal is preferable."

"Highly preferable that there is some transition to whatever Brexit UK wants."

"Possibility of fiscal stimulus could provide support to the economy, will adjust forecasts as needed when details are known."

When asked whether the risk of a cut or a hike are symmetric after a no-deal, "MPC does not have a collective view."

"No-deal Brexit would be unwelcome for the global economy."

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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.

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.

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