BoE has a neutral bias in policy  - Carney

Bank of England Governor Mark Carney was speaking at a press conference following the BoE decision to leave policy unchanged.

Main remarks of Carney speech:

• Households have looked through Brexit uncertainties
• August stimulus measures are working
• Business investment are somewhat less soft than expected
• Inflation expectations have picke up notably
• MPC is monitoring closely the development of inflation expectations
• No change to assumptions of type of Brexit
• BoE has a neutral bias in policy
• BoE is not indifferent to exchange rate, but we don’t target it
• Exchange rate moves have been driven by the market's view on Brexit
• BOE cannot influence the market's perception of UK Brexit prospects
• Main reason for fall in pound is judgements about the real economy in the market
• BoE can deal with political uncertainty
• Prime Minister supports monetary policy framework
• BoE will respond to fiscal policy if/when it changes