Mark Carney predicts more uncertainty on economy following Article 50 ruling

 
William Turvill
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Bank Of England Inflation Report Press Conference
The Bank of England held interest rates at 0.25 per cent today (Source: Getty)

Bank of England governor Mark Carney has described today’s Article 50 ruling as another example of uncertainty around Brexit which is affecting the economy.

The Bank’s Monetary Policy Committee (MPC) today held interest rates at 0.25 per cent as it revealed ramped-up inflation and near-term growth forecasts.

Read more: Bank holds interest rates as inflation and growth forecasts ramped up

The new inflation report was published hours after a High Court judge ruled that the Brexit process cannot be started until Parliament has given the move its backing.

Asked about this ruling – which the government intends to appeal – Carney said: “It is an example of the uncertainty that characterises this process.”

Read more: Parliament will now debate whether to invoke Article 50: So what?

Speaking at a press conference after the publication of the inflation report, Carney added: “The negotiations themselves haven’t even yet begun.

“There will be uncertainty, there will be volatility around those negotiations as they proceed, and I would view this as one of the symptoms – of one example – of that uncertainty.”

Article 50 ruling: What you need to know

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