BOE governor Mark Carney testifies in parliament on the inflation report

  • BOE not intending to provide additional analysis of a no-deal Brexit scenario
  • MPC will look at a scenario related to the withdrawal agreement
  • A withdrawal agreement would support the UK economy
  • MPC is working through Brexit scenarios on an accelerated timeline
  • Will find out relatively soon on risks of a no-deal Brexit

So far, everything is as expected by Carney and the BOE. They're still going with the assumption that there will be a Brexit deal and are declining to comment too much on the risks of a no-deal outcome as well as what that means for monetary policy moving forward.