Carney Speech: We want to use bank rate as marginal instrument of policy, not QE

Governor of the Bank of England, Mark Carney, is responding to questions from the press, with key quotes, via Reuters, found below.

Most likely reason to adjust bank rate in either direction is some resolution of big issues around Brexit.

Brexit deal will affect exchange rate.

We want to use bank rate as marginal instrument of policy, not QE.

Want bank rate to be higher than it is today before reversing QE.

Key notes

GBP/USD weaker, breaches 1.3100 on Carney.

The selling pressure around the Sterling remains well and sound on Thursday following the BoE meeting and the press conference by Governor M.Carney, all relegating GBP/USD to test fresh lows in sub-1.3100 levels.

UK: Cautious Bank of England casts doubt over further rate hikes - ING.

The Bank of England has hiked interest rates but a surprising tone of caution says future hikes are still not guaranteed, explains James Smith, Economist at ING.

About Mark Carney 

Mark Carney is Governor of the Bank of England and Chairman of the Monetary Policy Committee, Financial Policy Committee and the Board of the Prudential Regulation Authority. His appointment as Governor was approved by Her Majesty the Queen on 26 November 2012. The Governor joined the Bank on 1 July 2013.