Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business.
Mark Carney gave reassurance this morning that the Bank of England stands ready to do whatever it can to support the UK economy in the event of any Brexit shock.
In an interview with ITV’s Good Morning Britain, the governor said policymakers at Threadneedle Street would keep inflation low and the financial system secure, whether or not a Brexit deal was struck with the EU.
We will do whatever we can to support the economy during the transition – whether there is no deal or a comprehensive deal.
We can provide support by keeping prices low and stable and by making sure banks can withstand whatever shock that might come whatever deal we have.
People shouldn’t have to worry about inflation and financial stability. We’ll make sure inflation stays low and the banks stay strong.
Carney added that a transition deal would be in “everyone’s interest”, and negotiators were working with that goal in mind.
He gave the interview in Liverpool, where he will be joined today from his colleagues Ben Broadbent, Sir Jon Cunliffe and Sir Dave Ramsden and for the 2017 Bank of England Future Forum. The policymakers will visit schools across the city to discuss the Bank’s role in serving society.
Also coming up today…
9.30am GMT: UK retail sales for October will give the latest snapshot of the high street and appetite among consumers to spend
10am GMT: Eurozone inflation data will provide a final estimate for October
1.30pm GMT: US weekly jobs losses will give the most recent update of the labour market