The Bank of England’s mission is to promote the good of the people of the United Kingdom by maintaining monetary and financial stability.

Analysis

The statement aligns with the Bank of England's official mandate as outlined in the Bank of England Act 1998, which establishes its role in maintaining monetary and financial stability for the public good. Carney's phrasing is a direct reflection of this legal framework. No evidence suggests this was misrepresented.

Background

The Bank of England's mission is legally defined to prioritize monetary stability (e.g., inflation control) and financial stability (e.g., preventing systemic risks). As Governor, Carney's inaugural speech would logically reiterate this mandate.

Verdict summary

Mark Carney accurately quoted the Bank of England's statutory mission in his 2013 speech.

Sources consulted