Mark Carney: Remarks to Open Policy Panel

Remarks by Mr Mark Carney, Governor of the Bank of England, at the ECB Forum on Central Banking "20 Years of European Economic and Monetary Union", Sintra, 18 June 2019.

The views expressed in this speech are those of the speaker and not the view of the BIS.

Introduction

It is an honour to participate in such a distinguished panel on such a special occasion.

Before I begin, I should emphasise that the usual caveat of the past providing no guide to future performance applies particularly to my remarks today. My reflections are on history alone. I am speaking in the MPC's blackout period, so my comments have no bearing whatsoever on the decision to be announced by the MPC on Thursday.

There are no messages - coded or clarion - in what follows - about policy.

But there is one message that my presence here today is meant to convey. I want to pay homage to President Draghi's extraordinary leadership of the ECB, the ESRB, the FSB and, by example, of the G7 and G20. The crisis years here have been extraordinarily challenging but these challenges have been met because of his leadership, innovation and determination.