Bank of England governor Mark Carney readies for grilling from newly formed Treasury Select Committee

Jessica Morris
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BoE officials will face questions on financial stability and the UK economic outlook (Source: Getty)

Bank of England boss Mark Carney will be among the first witnesses to appear before the newly-formed Treasury Select Committee tomorrow.

Carney and other policymakers from the Old Lady will be quizzed about financial stability and the economic outlook for the UK.

Conservative MP and committee chair Andrew Tyrie has said he will ask questions regarding the leverage ratio, a key measure of bank's ability to deal with financial shocks.

"The leverage ratio is an essential addition to the [Bank of England's] toolkit for improving the stability of the financial system. A good deal of judgement is needed in its implementation and it is crucial that the Bank exercises it," Tyrie said.

"The Treasury Committee will be asking questions of the Bank of England about the leverage ratio when they come to see the newly formed Committee on Tuesday."

Tyrie continues as chairman alongside other returning members such as Steve Baker, who started Conservatives For Britain in aid of a European exit, and former banker Mark Garnier from the Conservatives and Labour's John Mann.

Newcomers include SNP MP George Kerevan; Labour MPs Wes Streeting, Bill Esterson and Helen Goodman; as well as Conservative MPs Stephen Hammond, Jacob Rees-Mogg and Chris Philp.

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