Mark Carney, governor of the Bank of England, has hinted a UK interest rate cut or further QE could come as early as this summer, in his second post-Brexit public speech.
Prior to the referendum, it was widely expected the UK would follow the US Federal reserve in tightening monetary policy in the coming months, but the fallout from the shock result has led to many central banks revising their forecasts. Carney (pictured) said: "I am not pre-judging the views of the other independent MPC members, [but] the economic outlook has deteriorated and some monetary policy easing will likely be required over the summer." Carney, who the morning the referendum result was announced had said the bank of England would not hesitate to take additional measures, added...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes