Mark Carney.
The Chairman of the Bank of England, Mark Carney, continues to see signs of a significant slowdown in the economy. It says he was at the press conference in conjunction with the financial stability report.
The chairman notes that areas such as investment and demand slowed before the referendum of 23 June, and he believes that they have seen so far after the vote signals a continuation of the trend, despite the limited access to the data.
However, the weaker pound boosted economic adjustment, and the country’s economy is fundamentally strong, says Carney.
There are also some positive signals to the markets, says the president, who believes that “financial markets do their job and adjust to this change.”
on a question regarding further monetary easing is Carney cautious and underlines that the monetary policy the Executive Board has not yet had any formal talks since the vote.
“in this environment with heightened uncertainty in an already low interest rate, it is very important that monetary policy is highly targeted, focused on the domestic economy and taking into account potential unintended and counterproductive consequences in the economy, “he says.
he repeats thus not Thursday’s statement that” some “easing of monetary policy will be needed over the summer.
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