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BoE's Carney says UK businesses unprepared for no-deal Brexit

Published 24/01/2019, 10:48
Updated 24/01/2019, 10:50
© Reuters. 2019 World Economic Forum (WEF) annual meeting in Davos

© Reuters. 2019 World Economic Forum (WEF) annual meeting in Davos

DAVOS, Switzerland (Reuters) - Bank of England Governor Mark Carney said on Thursday that many British businesses still face problems that have yet to be solved if Britain leaves the European Union without an agreement to smooth its transition.

"There are a series of logistical issues that need to be solved, and it's quite transparent that in many cases they're not," Carney said at a panel discussion at the World Economic Forum in Davos.

© Reuters. 2019 World Economic Forum (WEF) annual meeting in Davos

Carney repeated that the BoE had room to react to a hard Brexit, adding that policy could move in either direction in such a scenario.

Latest comments

The best Brexit of all, is no Brexit at all.
Believe me, there exists no possibility of a properly managed no-deal with the utter incompetence and chaos emanating from the UK political system. The current crop of British politicians are too economically illiterate to predict the outcomes, let alone handle the consequences of a 'No-deal' Brexit. I say that as a UK citizen living in Switzerland, which is an infinitely better governed country.
Can I move to Switzerland too? been looking to get out of here since 2016. would I need work permit sir?
Because of government dithering and MP's working against Brexit we are at a point where business doesn't know if its coming or going. You can blame the politicians who are simply looking to bin Brexit at the first excuse
so you're asking him to lie to the people
Carney needs to be supportive of the possibility of a managed No deal whilst being politically neutral
so you're asking him to lie to the people lol
Brian, your comment makes no sense. Either he supports, which in effect is a political statement or says nothing and remains neutral. Sounds very much like Brexiters who want the cake and eat it... This is exactly why Brexit is a mess.
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