BoE’s Carney: Room to lower Bank rate if necessary

Following the BoE decision to leave rates and the QE program unchanged, Governor Carney was speaking.

Main remarks:

• There are limits to what monetary policy can deliver after Brexit
• Brexit scenario could possibly lead to recession
• BOE not making judgment or forecast about long-term Brexit impact
• BOE has responsibility to communicate Brexit risks
• Room to lower Bank rate if necessary
• Can lower Bank rate before other measures are used