LONDON, Jan 30 (Reuters) – Bank of England Governor Mark Carney appeared on Tuesday before the Economic Affairs Committee in the upper house of Britain’s parliament, the House of Lords.
Below is a selection of his comments.
UK ECONOMY OUTPERFORMANCE VS BOE FORECAST AUG 2016
“If you look at the 1 percent difference between the two, what caused the discrepancy, with hindsight, the first fact is the world economy is much, much stronger and the European is much stronger.
“Second factor is improved financial conditions, relative to the conditions at the time, and our expectations of those financial conditions … There’s a tiny bit one could add as well for the loosening of fiscal policy … (or) the reduced pace of tightening of fiscal policy would be the most accurate description there.”
BOE GOT BROAD ECONOMICS RIGHT ON IMPACT OF BREXIT
“I’m going to reiterate the point about getting the broad economics right, which I think we did. We got the broad economic channels right, and taking what I, even with the wisdom of hindsight, very firmly believe was the right course of action to support the economy and to balance the return of inflation sustainably to target but also to support the economy during a period of some uncertainty.” (Reporting by Alistair Smout and Andrew MacAskill, editing by Estelle Shirbon)
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