Carney Dials Guidance Way Down as BOE Sees Future Wide Open
- BOE says Brexit uncertainty will weigh on U.K. economy
- Bank shifts policy stance as pound drop fuels inflation
BOE's Carney Focuses on Inflation Amid Uncertainty
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Mark Carney says he’s staying at the Bank of England. He’s just not saying what he’s going to do.
With his forecasting record proving patchy, the governor’s latest message is that the next move could be to tighten or loosen policy. A few months ago, policy makers foresaw a second interest-rate cut after the Brexit vote, while last year he was trying to indicate when rates would start to rise from a record low. The only thing Carney appears sure of now is his own tenure, which he extended this week to steward the economy through its divorce from the European Union.