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.
When asked if it would be wrong to assume the BoE will employ massive monetary stimulus after a no-deal Brexit, "it depends"
"If there is trade disruption and problems at ports after no-deal, will need to judge if inflation pressures can be looked beyond to support economy."
"There are limits to what we can do after a no-deal Brexit."
"There was no supply shock after the 2016 referendum when BoE gave stimulus."
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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.
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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.
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