Brexit

Mark Carney defends forecasts of Brexit impact

Name: Mark Carney defends forecasts of Brexit impact
Uploaded: 2018-12-04T15:50:51.115Z
Duration: 39 s
Channel: Financial Times
Description: Bank of England governor forecast deep contraction in worst case after split

Governor has defended the Bank of England’s analysis of Brexit’s economic impact, telling a parliamentary committee that it had held back the details of its dire no-deal scenario for as long as possible rather than employing scare tactics.

December 4, 2018

Footage: Reuters

Transcript

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Which is... you know, we had a core team of 20 senior economists who have been working on this for a couple of years. And then draw in other professionals from across the bank, almost 150 professionals from across the bank that have been working on it. And two senior committees, the MPC and FPC, have reviewed the work.

So this is not something... there was no exam crisis. We didn't just stay up all night and write a letter to the Treasury Committee. You asked for something that we had, and we brought it, and we gave it to.

Yeah. Thank you.