Bank of England Governor: Bank will protect economic growth

LONDON – Bank of England Governor Mark Carney says the central bank remains ready to protect economic growth in the face of pressures caused by Britain’s departure from the European Union.

Carney, in a speech Monday at the London School of Economics, says that “in exceptional circumstances” the bank has the discretion to balance the goal of controlling inflation against the need for economic stability.

He says the bank’s actions after the June referendum helped save 250,000 jobs.

His comments come on the eve of a key speech by Prime Minister Theresa May on her vision for leaving the EU.

Carney says “whatever transpires, the Monetary Policy Committee will manage monetary policy to achieve the inflation target in a sustainable manner consistent with the preferences and instructions of the people of the United Kingdom.”