Carney: "substantial degree of uncertainty around the degree of spare capacity in the economy”

FXStreet (London) - Members of the Bank of England Monetary Policy Committee are currently addressing the Treasury Select Committee on the November Inflation Report.

Addressing the Treasury Select Committee chaired by Andrew Tyrie MP, BoE governor Mark Carney stated that “There is a substantial degree of uncertainty around the degree of spare capacity in the economy”

Carney’s comments follow a split in the vote at this month’s BoE meeting when Martin Weale and Ian McCafferty voted against holding base rates.

Speaking before the TSC, McCafferty stated that he was “more concerned about risks to inflation on the downside”.