Carney Speech: Rate of growth is slower but not subdued

Governor of the Bank of England, Mark Carney, is responding to questions from the press, with key quotes, via Reuters, found below.

Rate of growth is slower but not subdued.

Speed limit of UK economy will be increasingly determined by slow productivity growth.

Worst of squeeze on UK real incomes is ending, rate rise aims to ensure it doesn't come back.

Our forecast is conditioned on a market curve that has 2 additional rate increases, we need those.

Inflation approaches 2 pct target, doesn't quite get there with 2 rate rises.

Key notes

The Bank of England hikes Bank rate by 0.25% with 7 MPC members backing the move.

The Monetary Policy Committee of the Bank of England decided to increase the Bank rate by 25 basis points to 0.50% with the majority of 7 members of the MPC backing the decision.

GBP/JPY plunges below 150.00 handle post-BoE, Carney in focus.

The GBP/JPY cross faded a knee-jerk bullish spike to mid-151.00s and tumbled below the key 150.00 psychological mark post-BoE decision. 

About Mark Carney 

Mark Carney is Governor of the Bank of England and Chairman of the Monetary Policy Committee, Financial Policy Committee and the Board of the Prudential Regulation Authority. His appointment as Governor was approved by Her Majesty the Queen on 26 November 2012. The Governor joined the Bank on 1 July 2013.