Into the Q&A

  • Monetary policy is more nimble than fiscal policy

  • BOE can lower rates further if needed

  • If we hadn't taken the steps today output would have been lower

  • Central forecasts show a period of modest growth

As I mentioned in my prior post, he's laying it on about future action. That's going to keep the pound firmly looking down. 1.3112 is the latest low and into support ahead of 1.3100.

  • UK is in a period of uncertainty

  • As a supervisor of banks, the BOE can make sure the transmission of policy works

  • Households and firms should not face the same credit constraints they did in 2008-2012

  • Savings returns are likely to be low for some time (i.e suck it up suckers)

Carney show's who's in charge