BOE governor defends stance on EU referendum debate

May 25, 2016
bank of england interest rate

At a parliamentary select committee meeting yesterday The Bank of England governor Mark Carney strongly defended his stance on the EU referendum debate, he made no apologises for his comments on the “dangers of a recession” if Britain leaves the EU, he insisted that the BoE’s views were independent and a collective judgment of the nine members of the Monetary Policy Committee.

The majority of members were in support of Mr Carney regarding his intervention in the debate, when answering questions from Jacob Rees-Mogg Conservative MP who is in favour of a Brexit, Mark Carney said “We have a responsibility to discharge our remit and we have a wider responsibility to the British people, who don’t want risks kept from them.”

Carney warned about the instant economic shock “Brexit” would inflict on Britain, the BoE governor said there was also a risk to mortgage rates even if the central bank cut its official interest rate.

 

 

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

You May Also Enjoy

Estate Agent Talk

Boost Spring Valuations: Is Upgrading to Double Glazing Still a Top ROI?

Come spring, the property market always picks up pace. As an estate agent, you know the questions start flooding in from homeowners wanting to maximise their sale price. Top of the list for many? Windows. Specifically, is splashing out on new double glazing actually going to deliver a worthwhile return when they sell? It’s a…
Read More →
LIVING BY THE SEASIDE 2022
Breaking News

COVID five years on: City and coastal trends reverse as homes by the sea take longer to sell

Rightmove’s new report looks at how the market has changed five years on from the pandemic starting Many city and coastal trends have now reversed, with homes near the sea taking three weeks longer to sell compared to 2020, and the majority of buyers in the capital looking to stay rather than leave London A…
Read More →
Estate Agent Talk

What it takes to make real estate development financing work

By Daniel Austin, CEO and co-founder at ASK Partners Securing financing for real estate development has become an uphill battle. With interest rates still elevated, inflation pushing construction costs higher, and planning delays introducing further uncertainty, developers face a challenging environment. Traditional lenders, constrained by regulatory pressures and rising risk aversion, have scaled back, creating…
Read More →
Home and Living

Signs Your Roof Needs Professional Repair: Don’t Ignore These Red Flags!

The roof of your home is one of its most vital components. It serves as the first line of defense against the elements, shielding you and your family from rain, snow, wind, and UV rays. A sturdy roof also enhances the energy efficiency of your house, helping to regulate temperature and reduce heating and cooling…
Read More →
for sale sign london
Estate Agent Talk

Cheap Local Estate Agent

How much is the average estate agency fees in England for 2025? The figure of 1.42% (including VAT) is the average estate agency fee in 2025. This average fee for selling your home can vary with figures between 1% and up to 3.5%, there may be some lower and higher too. How you are looking…
Read More →
Estate Agent Talk

The Future of Real Estate: How Technology is Revolutionizing the Industry

It is also evident that the real estate industry is going through a lot of changes mainly due to changes in technology. Technology is changing almost every aspect of the industry and this includes the purchasing, selling, and advertising of properties. Consumers need a more efficient and enhanced form of transactions, real estate professionals must…
Read More →