Earlier headlines from Bank of England Governor Carney are here
More (Headlines via Reuters ):
- Global economy risks becoming trapped in low-growth, low-inflation, low-interest rate equilibrium
- Timid structural reforms reflected in sizeable downside risks which are plaguing global outlook
- Weak global outlook appears to have been underlying cause of recent market turbulence
- Wrong to say cenbanks out of monetary ammunition
- Without improvement in fundamentals, real valuations of assets boosted by QE will fall back
- Limits to what negative interest rates can do to boost domestic demand
- Negative rates can cause transfer of demand weakness elsewhere via fx channel, ultimately a zero-sum game
- Lower rates create space for fiscal policy to boost domestic demand directly, if needed
- FSB to make policy recommendations on structural vulnerabilities in asset management activities
From a speech Carney is to deliver at the G20 in Shanghai
Carney on script after earlier this week hinting of BoE rate cuts / QE expansion if needed
And, here is the full text of the speech
And, for the ladies, Carney doing his best Clooney:
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In other UK news, the GfK consumer confidence data for February is out, at 0 (was 4 prior)
- lowest in a year
