Carney asked if BoE is headed towards a rate....>

BOE: Carney asked if BoE is headed towards a rate cut next rather than a hike.

He says the Committee views "limited and gradual" rate rise as appropriate based

on their assumptions. "But we will have to see".

- Cites growing concerns about the changing rules in global commerce including

tariffs but questions also arising around technology, whether certain supply

chains are sustainable. Whether concentrated between the 2 largest economies or

wider, all forms of protectionism are becoming persistent and damaging.

- Asked how high is the bar to further easing? "So clearly not going to answer

that question". Thrust of Qs have been around Brexit deal, uncertainty, global

economy. Said when we look at global economy we don't see indicators /

imbalances we normally see as a whole before going into recession. Corporates

are not indebted, infl pressures contained.

- There are growing concerns about the nature of the system and knock on for

investment which could in the long-run weigh on global supply. Said it's very

hard to make a call on trade policy. If no material deterioration in trade

policy the forces are there that the world will stabilise and pick up a bit.