Carney: Financial System 'Sailed Through' Brexit Vote

The transcript discusses the financial system's adjustment under the Bank of England's oversight, highlighting the unexpected smooth transition post-referendum. It details the actions taken by the Financial and Monetary Policy Committees to support economic adjustment and growth. The current economic data suggests a stronger than expected bounce back, with growth running at about half the rate prior to the referendum. The discussion emphasizes the importance of coherent policy actions and maintaining perspective on economic recovery.

What was the reaction of financial market participants to the adjustment of the financial system and currency?

• They were surprised by how smoothly it adjusted.

• They predicted the adjustment accurately.

• They expected the adjustment to be chaotic.

• They were indifferent to the adjustment.

What role did the Financial Policy Committee and the Monetary Policy Committee play in the adjustment process?

• They acted independently without coordination.

• They took timely and coherent actions.

• They ignored the adjustment process.

• They delayed taking any action.

How did the committees' actions help the economy?

• They slowed down the adjustment process.

• They had no impact on the economy.

• They supported the adjustment and bounce back.

• They caused further instability.

What does the current economic data suggest about growth rates?

• Growth is running twice as much as before the referendum.

• Growth is running at the same rate as before the referendum.

• Growth is running about half as much as before the referendum.

• Growth has completely stalled.

What is the perspective on the stronger than expected bounce back?

• It is considered insignificant.

• It is seen as a major concern.

• It is welcomed but kept in perspective.

• It is ignored by the committees.