Speaking to a Parliament committee live now
- Says the international environment is challenging
- The BOE is mindful of the risks from rapid credit growth
- BOE will not make an overall assessment of EU membership
- Whatever the outcome of the referendum, the MPC would use all its tools to achieve it's inflation mandate
- Some elements of risks relating to the referendum are beginning to materialise
- As with the Scottish referendum, we will communicate as much as is prudent about the implications of the EU referendum
- Vote to leave might result in an extended period of uncertainty about the economic outlook
He's keeping the BOE and the referendum at arms reach but I don't think the house members he'll be facing questions from, will let him off the hook so easily.
- It would be political to supress important judgements about the implications of the referendum which relate directly to the BOE's remit and which influence our policy action
- In addition to exchange rate moves a rise in uncertainty could weigh on other asset prices
- There's extensive evidence that whilst being a member of the EU, the UK has retained among most flexible product and labour markets in the G&
- One short run post Brexit scenario could be a lower path for growth and higher inflation
That's his statement over and now he'll get quizzed.
