March 11, 2020 / 9:32 AM / 3 months ago

BoE's Carney says coordinating with finance ministry for max impact

FILE PHOTO: The Governor of the Bank of England, Mark Carney, speaks to the Scottish Economics Forum, via a live feed, in central London, Britain March 2, 2018. REUTERS/Peter Nicholls/File Photo

LONDON (Reuters) - Governor Mark Carney said on Wednesday the Bank of England was coordinating with Britain’s finance minister to ensure its surprise interest rate cut and other measures announced on Wednesday would have maximum impact.

“The Bank is coordinating its actions with those that the Chancellor will announce later today in the budget in order to ensure that our initiatives are complementary and that they will collectively have maximum impact consistent with our independent responsibilities,” Carney said at a news conference.

Reporting by Andy Bruce and Kate Holton, editing by Estelle Shirbon

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