{"id":871,"date":"2018-05-27T10:13:09","date_gmt":"2018-05-27T08:13:09","guid":{"rendered":"https:\/\/britishdailynews.co.uk\/?p=871"},"modified":"2018-05-25T10:19:22","modified_gmt":"2018-05-25T08:19:22","slug":"bank-ready-to-act-if-uk-faces-disorderly-brexit-mark-carney-says","status":"publish","type":"post","link":"https:\/\/britishdailynews.co.uk\/?p=871","title":{"rendered":"Bank ready to act if UK faces disorderly Brexit, Mark Carney says"},"content":{"rendered":"

Mark Carney has signalled the\u00a0Bank of England<\/a>\u00a0would be prepared to cut interest rates \u2013 or freeze plans to increase them \u2013 in order to support jobs and economic growth should Britain be plunged into a disorderly Brexit.<\/p>\n

Outlining the options available to Threadneedle Street as the UK moves closer towards leaving the European Union from next year, the bank\u2019s governor said the institution was ready to respond to\u00a0Brexit<\/a>\u00a0in \u201cwhatever form it takes\u201d.<\/p>\n

Having lowered interest rates as an emergency measure immediately after the Brexit vote almost two years ago, the Bank has gradually\u00a0returned to raising the cost of borrowing<\/a>\u00a0for the first time since the onset of the financial crisis. In recent weeks, Carney has stressed the need to raise rates to curb inflation, which has risen sharply since the referendum.<\/p>\n

But while stressing a smooth exit from the EU would leave the Bank on its present course for raising rates over the next few years from their current level of 0.5%, he said a disorderly Brexit \u201ccould put monetary policy on a different path\u201d.<\/p>\n

In a key speech to the Society of Professional Economists in London on Thursday, he pointed to the central bank\u2019s steps taken straight after the EU referendum as proof of its ability to support jobs and growth.<\/p>\n