Carney speech: No-deal would be an instantaneous shock to both supply and demand


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.

"No-deal would be an instantaneous shock to both supply and demand."

"Cannot simply say that rates will go one way in the event of a Brexit deal, and another after no-deal."

"If you strip out markets' no-deal Brexit risk, rate expectations are roughly where we would expect."

Related articles

Bank of England lowers 2019 GDP growth forecast to 1.3% from 1.5% in May.

According to the updated economic projections in the Quarterly Inflation Report, the Bank of England forecasts the economy to expand by 1.3% in 2019, compared to 1.5% reported in May's publication.

GBP/USD off 2-1/2 year lows, still in the red post-BoE.

The GBP/USD pair held on to its weaker tone post-BoE, albeit has managed to recover around 15-20 pips from an early dip to sub-1.2100 level. 

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.

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

Stop losing your money! 
Learn to trade with us!

24/7 signals + Webinars    

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD pressured below 1.1900 amid virus concerns, USD rebound

EUR/USD is trading under pressure below 1.1900 amid US dollar rebound. A softer risk tone, Powell’s upbeat comments extend support to the greenback. ECB Panetta's remarks kept the euro bulls on the defensive and capped gains.

EUR/USD News

GBP/USD falls toward 1.3650 amid stronger USD, risk-off mood

GBP/USD pair is extending losses toward 1.3650, as the US dollar recovers ground across the board amid risk-aversion. Worries about the AstraZeneca covid vaccine and unrest in Northern Ireland further weigh on the spot.

GBP/USD News

Gold trades with modest losses just below $1,740 level

A modest pickup in the USD demand prompted some selling around gold on Monday. The precious metal failed to capitalize on Friday's bounce from the $1,730 support zone. A softer tone around the equity markets/US bond yields might help limit the downside.

Gold News

Dogecoin pauses before continuing 35% ascent

Dogecoin breached an ascending triangle pattern on April 11, triggering a bull run. DOGE spiked nearly 17% in a single candle on the 12-hour chart hitting $0.080. Now, a retracement to the immediate support level at $0.071 seems likely before it starts to climb again.

Read more

S&P 500 Week Ahead: Bears hibernate as records keep getting smashed, earnings season awaits

Equity markets continue to set new records as the Nasdaq plays catch up. Fundamentals are backing bulls as Fed doves dampen inflation concerns. Earnings week ahead will likely add more fuel to the fire.

Read more

Forex MAJORS

Cryptocurrencies

Signatures