Market news
09.01.2020, 11:19

BOE's governor Carney: UK economic growth has slowed below its potential

  • Global economy risks being trapped in a cycle of low rates, reducing policy space
  • MPC members are debating the merits of near-term stimulus
  • Limited space to cut bank rate would favour a relatively prompt response if evidence builds that weakness in activity could persist
  • Rebound projected in BOE forecast for this year is not assured
  • Early indicators since the election suggest that there has been some reduction in Brexit-related and domestic policy uncertainties
  • Says that BOE has equivalent of 250 bps of policy space and that QE, forward guidance and rate cuts are all still part of its policy tools

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