Carney speech: Protectionism becoming more damaging than expected a few years ago

Following the Bank of England's decision to keep its policy rate unchanged at 0.75%, Governor Mark Carney is delivering his remarks on the monetary policy outlook in a press conference with key quotes, via Reuters, found below.

"Global growth is well below trend, we are close to where we move to something that starts to feel like a recession."

"Questions growing whether some global supply chains are sustainable given trade tensions."

"All forms of protectionism are becoming more pervasive, persistent and damaging than expected a few years ago."

"We do not see the types of imbalances that are normally associated with global economy tipping into recession."

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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.