Asked whether this action has come too early before the real effects of Brexit are known

  • We are seeing risks from Brexit manifest in a wide range of indicators
  • There is a clear case for using stimulus now so it's in place when the economy needs it
  • Broadbent: at face value the PMI's suggest the economy is shrinking
  • Broadbent: Does not think it is premature to take the steps the BOE has

Carney is now going strong on a question of savers diminishing returns

  • Should the BOE ignore the possibility of job losses if we didn't use stimulus to please one set of people
  • We've seen institutional investors moving into higher risk

Carney: "Our hand is still hovering over the easing button"