Following Britain's vote to leave the European Union, Bank of England Governor Mark Carney hinted at providing further stimulus in a speech on Thursday.
In remarks to business leaders, Carney said a material slowing in economic growth now looks likely to be the central forecast in reaction to the so-called Brexit.
Carney subsequently said the deteriorating economic outlook will likely require some monetary policy easing over the summer.
"The Committee will make an initial assessment on 14 July, and a full assessment complete with a new forecast will follow in the August Inflation Report," Carney said. "In August, we will also discuss further the range of instruments at our disposal."
Carney's remarks triggered a rally by stocks in the U.K., with the FTSE 100 Index surging up by 2.3 percent to a ten-month high.
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Forex News
April 24, 2026 15:15 ET Economics news flow was relatively light this week even as the conflict in the Middle East continued, raising concerns for policymakers. In the U.S., spending data, initial jobless claims and pending home sales were the highlights. Business confidence in the biggest euro area economy was in focus in Europe. Inflation data from Japan gained attention in Asia.