Euronews is no longer accessible on Internet Explorer. This browser is not updated by Microsoft and does not support the last technical evolutions. We encourage you to use another browser, such as Edge, Safari, Google Chrome or Mozilla Firefox.
BREAKING NEWS

Bank of England's Carney hails central bank advances since crisis

Bank of England's Carney hails central bank advances since crisis
FILE PHOTO: Bank of England Governor Mark Carney listens to a journalist's question during an Inflation Report Press Conference at the Bank of England in the City of London, Britain May 2, 2019. Matt Dunham/Pool via REUTERS/File Photo -
Copyright
POOL New(Reuters)
Euronews logo
Text size Aa Aa

SINTRA, Portugal (Reuters) – Bank of England Governor Mark Carney said changes to the way central banks steer their economies since the global financial crisis 10 years ago represented “tremendous advances” in monetary policy.

Carney cited innovations such as the use of forward guidance to give steers on what is likely to happen with borrowing costs, and programmes to pump liquidity in the banking system.

“In this as in so many other respects, Europe has a rich past,” he said in comments he was due to deliver at a conference organised by the European Central Bank on Tuesday.

“And in part because of that past, it now has the possibility of a bright future,” he said.

Carney said his comments should not be seen as having any bearing on the BoE’s latest monetary policy decision which is due to be announced on Thursday.

Twenty economists polled by Reuters all expected the British central bank’s nine monetary policymakers to vote unanimously in favour of keeping borrowing costs unchanged.

(Writing by William Schomberg, editing by David Milliken)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.