Carney speech: Best thing BoE can do for poorest households is to keep inflation on target
Bank of England Governor Mark Carney is now responding to questions from the press.
Key quotes (via Reuters)
- Policy needs to walk, not run, to stand still as equilibrium interest rate rises gradually.
- UK Households have paid down a lot of debt.
- Best thing BoE can do for poorest households is to keep inflation on target.
- Higher global interest rates should increase pass-through of BoE rate rise to UK savings account rates.
- Everyone, whether borrower or saver, should remember BoE's limited and gradual message on the pace of rate increases.
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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.