Bank of England’s Carney says UK businesses unprepared for no-deal Brexit

2019 World Economic Forum (WEF) annual meeting in Davos
Mark Carney, Governor of the bank of England, attends the World Economic Forum (WEF) annual meeting in Davos, Switzerland, January 24, 2019. REUTERS/Arnd Wiegmann

January 24, 2019

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.

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.

(Reporting by Alessandra Galloni and Leika Kihara, writing by Andy Bruce; Editing by Alistair Smout)

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