Bank of England Gov. Mark Carney is delivering a speech on Thursday, a week after Britons voted to leave the European Union, the central bank said Wednesday. Carney stepped in to soothe financial markets Friday in the immediate aftermath of the shock Brexit vote, pledging the BOE would backstop the financial system with at least £250 billion ($334 billion) of loans to banks that needed them.
And, as many suspected, he just announced that the BOE will likely ease further over the summer:
- BOE CARNEY: SOME MONETARY POLICY EASING LIKELY OVER SUMMER
- BOE CARNEY: MPC WILL DISCUSS FURTHER POLICY INSTRUMENTS IN AUG
- CARNEY: BOE MPC INITIAL ASSESSMENT JULY, NEW FORECASTS AUG IR
- BOE CARNEY: FACES TRADE-OFF STABILISING GROWTH, JOBS, OUTPUT
- BOE CARNEY: MONETARY POLICY CAN’T FULLY OFFSET NEGATIVE SHOCK
- BOE CARNEY: UNCERTAINTY DRAG MAY BE GREATER THAN FORECAST
- BOE CARNEY: PLAUSIBLE UNCERTAINTY ELEVATED FOR SOME TIME
- CARNEY: BOE POLICY TO JOIN UP MACRO-PRU, REGULATION, MONPOL
- BOE CARNEY: IF BANK RATE TOO LOW CAN HIT CREDIT AVAILABILITY
- BOE CARNEY: MATERIAL SLOWING DUE BREXIT NOW CENTRAL FORECAST
- CARNEY: BOE TO OFFER WEEKLY INDEXED LONG-TERM REPOS TO END SEP
HIs full speech can be found here. Watch him live after the jump:
via http://ift.tt/294Yaqr Tyler Durden