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Bank of England’s Carney hints at stimulus in no-deal Brexit

Bank of England's Carney hints at stimulus in no-deal Brexit

In this May 2, 2019, file photo Mark Carney the Governor of the Bank of England speaks during an Inflation Report Press Conference at the Bank of England in the City of London. File Photo

In testimony to lawmakers, Carney said Wednesday that the response from the bank’s rate-setting panel over a ‘no-deal’ Brexit “would not be automatic” and will depend on the impacts on demand, supply and on the exchange rate. A fall in the pound could lead to a rise in inflation that could prompt some rate-setters to increase interest rates.

Carney said “some of us, myself included” think it’s “more likely” that some stimulus will be provided but that there were “no guarantees” on that.