BoE's Carney: Cutting interest rates after a disorderly Brexit would not allow a UK bank to operate in EU

Additional comments from Bank of England Governor Mark Carney continue to cross the wires as he responds to questions on the Financial Stability Report.

• Disorderly Brexit would be a supply shock, totally different type of hit to those suffered by other advanced economies.
• BoE would be faced by real challenge on rates.
• Determining size and persistence of supply shock in no deal Brexit would be hard for BoE.
• All things equal, sharp supply shock likely to be inflationary.
• MPC cannot ignore mandate to control inflation after Brexit.
• Probability of no deal Brexit has increased over time.
• Cutting interest rates after a disorderly Brexit would not allow a UK bank to operate in EU.
• We are not giving advice to UK lawmakers on Brexit.
• BoE is trying to reassure people about Brexit, not scare them.

Source: Reuters.