Carney says global economy has weathered uncertainty well

Lynsey Barber
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Mark Carney has updated G20 finance leaders as chair of the FSB (Source: Getty)

Mark Carney has said the global economy has successfully weathered uncertainty, including downward revisions to global growth and the initial shock of the EU referendum result.

In a letter to G20 finance leaders and central bank governors, the governor of the bank of England said in his capacity as the head of the Financial Stability Board (FSB): "Although welcome, we cannot allow this resilience to foster complacency."

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"Recent events have proven that our intensive work over the past seven years to fix the fault lines that led to the global financial crisis is paying off and is now making a positive contribution towards strong, sustainable and balanced growth," said Carney, ahead of this weekend's G20 meeting in Chengdu.

"Thanks to rigorous implementation of G20 reforms, the financial sector has been dampening aftershocks from recent events, rather than amplifying them. This shows the G20 is on the right track."

Carney reiterated the group's priorities for the year, including the implementation of post-crisis reforms and monitoring the implications of technology on financial markets.

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