Mark Carney on Andrew Marr Show: Ignoring a risk is not to reduce it

Posted On: 
15th May 2016

Appearing on the BBC's Andrew Marr Show, Bank of England Governor Mark Carney defended his intervention in the EU debate, arguing he has a responsibility to "come straight with the British people" about risks.

"We have learned in the UK from past mistakes. High variable inflation, the debacle of the ERM exit - the lesson from that was to adopt inflation targeting, brilliantly executed by my predecessor Lord King. The lesson of the run up to the financial crisis was to give an institution responsibility for identifying risks, not to cross your fingers and hope that risks would go away and everything would be all right on the night, but to identify the issues and come straight with the British people about them and then take steps to mitigate them. What brings those two approaches together, those two big lessons of the last quarter century is transparency...

"We don't just have a responsibility to the British people to be fair and not ...