Bank of England Governor, Mark Carney says that stimulus likely to be needed
- some monetary policy stimulus likely to be needed over summer.
- economic outlook worse.
- MPC will make initial assessment at July 14th meeting and make a decision at August meeting.
- uncomfortable truth that the BOE cannot fully offset a large economic shock from leaving the EU.
So rate cuts or QE from Bank of England this summer. This will add to the already high pound volatility.