Bank of England Governor Carney in the Scottish press (The Herald)

On North Sea oil:

  • the impact of North Sea weakness on the broader Scottish economy "It is having a multiplier impact."
  • of the oil and gas downturn: "It is difficult. I don't want to underplay it."
  • "It is a challenging environment and, given global prices, that may persist for some time."

On the performance of the UK economy in the wake of the Brexit vote:

  • "We expected a material slowing in the economy as a consequence of the decision to Leave...That is not a comment on the long-term prospects for the UK economy. There are positive long-term prospects for the UK economy.
  • It is a product of a period of uncertainty and adjustment that naturally is under way. It is a slowing from strong growth to something less than that."

Link is here for the full article

GBP still not doing too much, rates update: