LONDON (Reuters) - Bank of England Governor Mark Carney and other top officials from the central bank spoke in parliament on Tuesday about the BoE’s Inflation Report which was published in May.
CARNEY ON NO-DEAL BREXIT
The path of interest rates, in the markets judgment, is lower because they are ascribing some possibility to no-deal. And in the event of no-deal, that interest rates would be lower than they otherwise would be.
In the event that the policy of the government were to switch, the forecast of the Bank of England would switch accordingly.
In the event that there is no deal, the response would not be automatic, it would depend on demand, on supply and where the exchange rate went.
Reporting by Kate Holton