January 7, 2020 / 9:17 PM / 14 days ago

Central banks might struggle to fight deep downturn-Carney

LONDON, Jan 7 (Reuters) - Bank of England Governor Mark Carney said central banks might not be able to fight off a sharp economic downturn because they have used up much of their usual monetary policy arsenal, the Financial Times reported on Tuesday.

“It’s generally true that there’s much less ammunition for all the major central banks than they previously had and I’m of the opinion that this situation will persist for some time,” Carney told the newspaper in an interview.

“If there were to be a deeper downturn, (that requires) more stimulus than a conventional recession, then it’s not clear that monetary policy would have sufficient space.” (Writing by William Schomberg. Editing by Andrew MacAskill)

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