Carney sees storm clouds gathering over global economy

Mark Carney
Mark Carney
Photo: Simon Dawson/Bloomberg

Mark Carney has warned the “portents are worrying” for the global economy, saying storm clouds seem to be gathering as global trade relations remain tense.

The Bank of England governor acknowledged the monetary policy committee had foreseen trade tensions easing in its latest report. The ink was “barely dry” before US President Donald Trump unveiled new tariffs on China, he said in his remarks today (July 2).

The “febrile atmosphere” in global trade is impacting corporate earnings and harming

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