Carney Defends Stimulus as Broadbent Sees Profound Brexit Effect
- Bank of England governor repeats key rate can go lower
- Deputy Governor Broadbent says stimulus plan will work
Brexit Will Determine What BOE Does Next, Says Morris
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Mark Carney said his stimulus plans will help revive an economy reeling from the country’s decision to quit the European Union, rejecting criticism that monetary policy has reached its limits.
The Bank of England is “making the best of the situation it finds itself in,” the governor told LBC Radio in an interview broadcast on Friday. His comments were echoed by Deputy Governor Ben Broadbent, who told BBC Radio 4 he rejected the idea that loosening policy and presenting a downbeat outlook would hurt confidence even further.