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Bank of England’s Carney to intervene in Brexit debate

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Mark Carney will set out his stance on the UK’s potential exit from the European Union this week.

The governor of the Bank of England will detail how any Brexit could affect the Bank’s operations when speaking at the Cairncross memorial lecture at St Peter’s College, Oxford on Wednesday night, reports the Financial Times.

A report from the Bank will come out alongside his speech, and Carney will only focus on the bank’s ability to deliver monetary and fiscal stability in his speech, rather than the wider political implications of a Brexit.

Speaking previously, Carney has said: “Clearly in terms of the issues around Britain’s place in Europe, the only thing we will say on that as an institution is to provide a perspective of the impact of being a member of the European Union, how that affects the keeping of our objectives, which are monetary and financial stability, which is quite a narrow but important foundational item.”

The Bank’s previous work on a potential Brexit was accidentally leaked earlier this month when details were emailed to a Guardian journalist. The work at the Bank is being led by deputy governor Sir Jon Cunliffe, a previous Brussels official.

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