Carney also said the risk of recession for the British economy has been reduced compared with before the June 23 referendum in which the majority of United Kingdom voters showed support for the country leaving the European Union.
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Ahead of the referendum, he told the Treasury Select Committee that a vote for Brexit could have “a material impact on growth and inflation” and could mean a technical recession – defined as two quarters of negative growth.
“The Bank and the Monetary Policy Committee (MPC) helped to support, cushion and help the economy to adjust, as the pro-Brexit result was a surprise to financial markets”, he added.
“I am absolutely serene about the comments, the judgments, made both by the MPC [Monetary Policy Committee] and the FPC [Financial Policy Committee]”.
Mr Carney said: “In light of all the events, I’m absolutely serene about the judgements made by the Monetary Policy Committee and Financial Policy Committee”.
BoE Governor Mark Carney will at 1315 GMT have to answer questions from parliamentarians about whether the central bank overreacted in its monetary easing last month, and will be watched for clues on possible further action.
Data has suggested Britain’s economy did not suffer the kind of devastating post-Brexit vote hit forecast by some supporters of the Remain campaign, but economists say it is heading for a slowdown.
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The chief has also been accused of over-reacting to the June vote to leaver after the Bank cut interest rates by 0.25 per cent and re-started the Bank’s money-printing programme at the start of August.
