BOE governor Mark Carney is now taking questions from the press
- There is a possibility of a no-deal outcome
- We have been preparing financial markets for such a possibility
- The current stance is that the UK is looking for a deal
- Cannot say that rates can go in any one direction in the event of a deal or no-deal
He is doing his utmost best to avoid giving their view on a no-deal Brexit outcome by going round and round talking about everything else. When the reporter tried to press him further, they moved on to another question.
I think that tells you all you need to know about how the rest of the session is going to go. He's not going to commit to any firm stance with regards to their view on a no-deal Brexit outcome and he will just reiterate the assumptions in the statement.
I'm just hoping someone questions him on the inflation report because in the central forecast for inflation expectations, they are assuming a rate cut by Q3 2020 and that is very much different to their "gradual and limited" tightening forward guidance.
