Carney: Brexit Scenario Could Possibly Include Recession

The transcript discusses the independent judgment of the MPC, emphasizing that it is based on rigorous analysis and careful consideration. It explores various scenarios, including the possibility of a technical recession, and highlights the importance of providing information about major risks to the central forecast. The discussion extends to the responsibilities and trade-offs faced by monetary policy, stressing the need for transparency to help the British public understand potential economic paths. The MPC's role in responding to economic uncertainties is also highlighted.

What is the basis of the MPC's judgment according to the first section?

• Personal opinions of the members

• Rigorous analysis and careful consideration

• Public opinion polls

• Historical economic data

What is the primary focus of the second section regarding the MPC's role?

• To predict the exact future economic conditions

• To provide information and perspective on risks and monetary policy

• To ensure economic growth at all costs

• To make decisions based on public demand

Why is it important for the MPC to communicate potential paths of monetary policy?

• To align with government policies

• To ensure the public can anticipate responses to economic uncertainties

• To guarantee economic stability

• To influence stock market trends

What does the MPC emphasize about the nature of economic paths?

• They are controlled by the government

• They are predictable and stable

• They are irrelevant to monetary policy

• They are uncertain and subject to shocks

What is explicitly stated in the MPC's remit according to the final section?

• To ensure a fixed interest rate

• To follow international economic trends

• To make long-term economic forecasts

• To discuss risks and trade-offs in monetary policy