BANK OF ENGLAND governor Mark Carney has played down the Bank’s analysis of a UK exit from the EU, telling an influential group of MPs it is “a bit of a yawner”.
The Bank is due to publish its findings today after investigating the potential impact a UK exit from the EU would have on its ability to steer the economy. Carney is giving a speech in Oxford later this evening.
He told the Treasury Select Committee yesterday: “The analysis is on the impact of EU membership on the ability of the Bank of England to discharge its statutory responsibilities. It’s a bit of a yawner.”
The report was completed by a team of Bank economists, led by deputy governor Jon Cunliffe.
Carney caused a stir last year when he said an independent Scotland would have to hand over some control of its government spending if it wanted to keep the pound.
The Bank governor also aired further concerns about the Bank’s independence, which is threatened by proposals to use the central bank to fund government infrastructure spending. He said there was a “long history of sorry evidence” against political tinkering in monetary policy.