BOE's Carney: Brexit Changed the Economic Outlook

The transcript discusses the economic impacts of structural shocks and the limitations of monetary policy in addressing them. It outlines the Monetary Policy Committee's (MPC) measures to support the UK economy, including a reduction in the Bank rate and asset purchases. The economic outlook has changed significantly, with trade-offs between economic support and inflation targets. The effects of Brexit on demand, supply, and exchange rates are analyzed, highlighting challenges in investment and employment due to uncertainty and higher capital costs.

How has the depreciation of sterling since the referendum affected exports and imports?

What factors are expected to weigh on investment and consumer spending in the near term?