Bank of England governor Mark Carney has said central bank stimulus measures allowed the UK to avoid a post-Brexit recession, and he is prepared to cut interest rates further if needed to support the economy.
While being questioned by MPs on the Treasury Select Committee about how the BoE handled the EU referendum outcome, Carney said he was "absolutely serene" about its preparations to cope with the impact of a Brexit vote. He added the bank took "timely, comprehensive and concrete" actions to "support, cushion and help the economy to adjust". "This financial system, under the oversight of the Bank of England, sailed through what was a surprise to the vast majority of financial market participants," he said. Carney also claimed the central bank's decision to cut interest rates to a his...
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