Carney to Keep Brexit Commentary Rolling With Split Drawing Near
(Bloomberg) -- Mark Carney has at least four more opportunities before the end of the year to talk about Brexit, with his words potentially taking on greater weight as the split gets closer.
The political process is grinding toward a parliamentary vote in coming weeks -- date yet to be decided -- on the divorce deal with the European Union, and the Bank of England governor’s views may impact lawmakers and financial markets alike.
Most of his two-hour testimony at Parliament’s Treasury Committee on Tuesday was spent answering questions on the likely economic effects of the agreement. The document is backed by Prime Minister Theresa May but under attack from members of her party and the opposition.
In text or in person, the BOE is scheduled for the following events:
- Nov. 28: Financial Stability Report and press conference
- Nov. 29: EU Withdrawal Agreement analysis sent to Treasury Committee
- Unknown date: Treasury Committee evidence session
- Dec. 20: Next BOE interest-rate decision
“Carney could provide some additional color,” said Philip Rush, chief economist at Heteronomics. “As we get closer toward the end of the year, as Brexit stuff is all panning out in the interim, they should become more relevant.”
Follow the latest developments in our Brexit Update
The BOE was asked by the Treasury Committee to put numbers on various exit scenarios, including a no-deal Brexit. Even so, Carney’s insights may provoke his critics. He was labelled the “high priest of project fear” by Brexiteer Jacob Rees-Mogg as recently as September.
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