August 4, 2016 / 11:56 AM / 3 years ago

Bank of England will take 'whatever action is necessary' - Carney

Bank of England governor Mark Carney pauses as he speaks during a news conference at the Bank of England in London, Britain July 5, 2016. REUTERS/Dylan Martinez/File Photo - RTSKJSY

LONDON (Reuters) - The Bank of England will take “whatever action is necessary” to achieve monetary and financial stability, Governor Mark Carney said on Thursday, adding that lower interest rates would be felt immediately in the economy.

“The Bank continues to stand ready to take whatever action is needed to achieve its objectives for monetary and financial stability as the UK adjusts to new realities, and moves forward to seize new opportunities, outside the EU,” Carney said, speaking after the BoE cut rates to new record low 0.25 percent.

“The MPC is determined that the stimulus the economy needs does not get diluted as it passes through the financial system.”

Reporting by UK bureau, writing by Andy Bruce, editing by Hugh Lawson

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