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Governor defends bank's warning over referendum

By Holly Williams

Bank of England governor Mark Carney yesterday denied allegations he "over-egged" Brexit warnings and insisted he was "serene" about actions taken surrounding the referendum.

In a Treasury Select Committee hearing, Mr Carney responded to accusations the bank exaggerated the economic hit ahead of the vote and "encouraged an overreaction after it".

He said he was "comfortable" with the warnings before the referendum and added that the bank's move to slash interest rates and deliver an emergency package of measures worked.

Last month's rate cut to a new historic low of 0.25% also helped to support house prices and the wider economy, he claimed.

Belfast Telegraph


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