personal finance

BoE's Carney – rates could end up higher in many Brexit outcomes

LONDON (Reuters) – Bank of England Governor Mark Carney said on Thursday there were many ways that the eventual outcome of Britain’s divorce with the European Union could result in higher interest rates.

FILE PHOTO: Mark Carney, Governor of Bank of England addresses the Northern Powerhouse Business Summit Boiler Shop in Newcastle, Britain, July 5, 2018. REUTERS/Phil Noble/File Photo

“There’s a wide range of Brexit outcomes, but in many of them, interest rates will be at least as high as they are today. So we don’t need to keep our powder dry for that,” Carney told a news conference after the BoE raised rates to a new post-crisis high of 0.75 percent.

“The mistake is to always wait, wait, wait, until you have perfect certainty because we don’t know when that higher degree of certainty is going to transpire.”

Reporting by Andy Bruce and Alistair Smout; editing by Stephen Addison


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