BOE’s Carney: Monetary policy is not principle instrument for financial stability

It’s the BOE Governor Mark Carney’s turn now to testify before the Treasury Select Committee (TSC), in London.

Key Headlines via Reuters:

Monetary policy is not principle instrument for financial stability

Expect inflation to peak around 3% level about Oct/Nov time

More likely than not that I will need to write letter explaining inflation exceeding 3%

We still face a trade-off between inflation above target and supporting jobs and economic activity

Also read:

BOE’s Tenreyro: MPC far from the point at which we will unwind QE

BOE’s Ramsden: Loss of market confidence could lead to higher BOE rates, weaker GBP