Mark Carney: Enable, empower, ensure - a new finance for the new economy

Speech by Mr Mark Carney, Governor of the Bank of England, at the Lord Mayor's Banquet for Bankers and Merchants of the City of London, at The Mansion House, London, 20 June 2019.

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

Central bank speech  | 
27 June 2019

New Economy - New Finance

There's a new economy emerging driven by changes in technology, demographics and the environment.

This new economy requires a new finance.

A new finance to serve the digital economy.

A new finance with products that are more cost effective, better tailored, and more inclusive.

A new finance to support the transition to a sustainable economy.

A new finance that balances innovation with resilience.

With its leadership in fintech and green finance, the UK private sector is creating the new finance, but your efforts will be more effective with the right conditions in which to innovate and the level playing fields on which to compete.

New Finance - New Bank

That's why a new finance demands a new Bank of England.