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.

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