BOE Governor Defends Private Meetings and Brexit Warnings

The Bank of England governor has said it is “important” that he and Chancellor George Osborne are allowed to have private meetings.

However, Mark Carney has agreed minutes of their private talks on Brexit may be examined ‘discreetly’ by MPs.

It was his first time giving evidence to MPs since the vote.

He denied again that the Bank of England had tried to “frighten” the public about the negative effect a Brexit vote could have on the economy.

Supporters of Leave – including two former Conservative Chancellors – accused him last month of “peddling phoney forecasts”.

“It is our responsibility to give these assessments…we have an obligation to make these assessments,” said Mr Carney.

“The debate cannot be about whether we should have made an assessment. If we view something as the biggest risk, we have an obligation, a statutory obligation, to make that clear to parliament. We have an obligation to the people of the United Kingdom to come straight with them,” he added.

via BBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza