Mark Carney talks about climate change and structural reform


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    Nothing from the BOE Governor on monetary policy

    Bank of England Governor Mark Carney refrained from discussing central banking in anything but the vaguest terms Thursday.

    "Long-run prosperity was never in the gift of monetary policy makers," Carney said in prepared remarks for aspeechin Berlin on Thursday. "A consensus is growing that escaping this low-growth low-inflation trap will require a rebalancing between monetary, fiscal and structural policies.

    His speech generally focused on climate change and green finance. He also touched on structural reforms but avoided anything that could be construed as a comment on interest rates.

    "In addition to their merits in raising potential growth directly, structural reforms could improve the savings and investment balance, thereby increasing equilibrium interest rates and giving monetary policy more traction," he said

    Carney may take questions later.

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    This article appears in: Investing , Forex

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