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Bank of England will be 'prudent not passive' after Brexit - Carney

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Bank of England will be 'prudent not passive' after Brexit - Carney
FILE PHOTO: The Governor of the Bank of England, Mark Carney hosts a Financial Stability Report news conference at the Bank of England, in London, Britain November 28, 2018. Daniel Leal-Olivas/Pool via REUTERS   -   Copyright  POOL(Reuters)
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LONDON (Reuters) – Bank of England policymakers will be “prudent not passive” after Britain leaves the European Union, and moves in the exchange rate will be only one factor in determining the right path for interest rates, BoE Governor Mark Carney said on Wednesday.

“From a monetary policy perspective, the Monetary Policy Committee is well-prepared for whichever path the economy takes. We have the tools we need. We will be prudent not passive,” Carney said in an online discussion hosted by the central bank.

Carney added that movements in sterling tended to have relatively large and persistent effects on British consumer prices, and so had a material effect on the inflation outlook.

(Reporting by David Milliken, editing by Andy Bruce)

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