Carney speech: Risks to UK growth are skewed to downside

Following the Bank of England's decision to keep its policy rate unchanged at 0.75%, Governor Mark Carney is responding to questions from the press with key quotes, via Reuters, found below.

"New BoE Brexit assumptions assume transition largely takes place over 3 years, versus previous much longer transition."

"BoE's latest Brexit assumptions show costs of Brexit transition over a shorter time horizon than before."

"Risks to UK growth are skewed to the downside."

"UK growth in future years will be helped by fiscal policy, stronger world and reduced uncertainty."

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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.