|

Carney Speech: Rate of growth is slower but not subdued

Governor of the Bank of England, Mark Carney, is responding to questions from the press, with key quotes, via Reuters, found below.

Rate of growth is slower but not subdued.

Speed limit of UK economy will be increasingly determined by slow productivity growth.

Worst of squeeze on UK real incomes is ending, rate rise aims to ensure it doesn't come back.

Our forecast is conditioned on a market curve that has 2 additional rate increases, we need those.

Inflation approaches 2 pct target, doesn't quite get there with 2 rate rises.

Key notes

The Bank of England hikes Bank rate by 0.25% with 7 MPC members backing the move.

The Monetary Policy Committee of the Bank of England decided to increase the Bank rate by 25 basis points to 0.50% with the majority of 7 members of the MPC backing the decision.

GBP/JPY plunges below 150.00 handle post-BoE, Carney in focus.

The GBP/JPY cross faded a knee-jerk bullish spike to mid-151.00s and tumbled below the key 150.00 psychological mark post-BoE decision. 

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

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.

More from Eren Sengezer
Share:

Editor's Picks

EUR/USD climbs to daily highs near 1.1820

EUR/USD now picks up pace and advances to the area of daily peaks north of the 1.1800 barrier at the end of the week. The pair’s decent move higher comes against the backdrop of a generalised lack of direction in the FX galaxy and the mild offered stance in the US Dollar.

GBP/USD trims losses, retests 1.3460

After briefly challenging its key 200-day SMA near 1.3440, GBP/USD now manages to regain some balance and revisit the 1.3460 zone on Friday. Cable’s pullback comes as the selling pressure on the Greenback gathers traction, reigniting some recovery in the risk-linked space.

Gold flirts with four-week highs past $5,200

Gold extends its rebound, climbing for a third consecutive session and pushing back above the $5,200 mark per troy ounce on Friday. The move higher continues to draw support from lingering geopolitical tensions and the ongoing uncertainty surrounding US trade policy, both of which are keeping safe-haven demand firmly in play.

Bitcoin, Ethereum and Ripple consolidate with short-term cautious bullish bias

Bitcoin, Ethereum and Ripple are consolidating near key technical areas on Friday, showing mild signs of stabilization after recent volatility. BTC holds above $67,000 despite mild losses so far this week, while ETH hovers around $2,000 after a rejection near its upper consolidation boundary. 

Breaking: US and Israel attack Iran, risk aversion to sweep global markets

Early Saturday, United States (US) President Donald Trump announced that the US had begun “major combat operations” in Iran, following Israel’s pre-emptive missile attacks against Tehran.

Starknet unveils strkBTC, shielded Bitcoin transactions on Ethereum Layer 2

Starknet, the Ethereum Layer 2 network developed by StarkWare, today announced strkBTC, a wrapped Bitcoin asset that introduces optional shielding while preserving full DeFi composability.