- BoE's Governor Carney: Data hasn’t shifted towards signaling a global recession
Market news
4 September 2019
BoE's Governor Carney: Data hasn’t shifted towards signaling a global recession
- UK not directly in the “sights” of global trade war
- We’re close to manufacturing recession across developed and much of the emerging world.
- Fundamentals in major economies still quite strong, but there are pockets of risk
- China has quite significant imbalances, a cause of concern
- There is a relatively limited policy scope in many central banks.
- We have considerable policy space in the UK. Not just policy space in terms of the conventional policy
- Global economy now less supportive for UK growth. It’s a less supportive backdrop than since I’ve been governor
- We can offset some effects from global economy but can’t fully insulate the UK economy
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