BOE’s Carney Sees U.K. Growth Influenced by Greater Risks

Bank of England Governor Mark Carney spoke of “heightened” external risks menacing the U.K. as weakening global economies and political tensions weigh on the outlook.

“In recent months, global economic conditions have deteriorated in two of the major economies — Europe and Japan,” he told lawmakers in London today. “The geopolitical situation remains difficult. The combination of that suggests a heightened degree of external risks to the U.K.”

Carney made his comments as the Paris-based Organization for Economic Cooperation and Development declared that the global economy “continues to run in low gear.” BOE policy makers cut their economic forecasts earlier this month because of feeble global expansion and the “specter” of stagnation in Europe, a sentiment echoed in testimony today.

Bloomberg

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.