Traders Brace for BOE Rate Cut After U.K. Vote to Quit EU

Bank of England Governor Mark Carney responded to Britain’s decision to quit the European Union with a 250 billion-pound ($343 billion) pledge of funds to support the banking system. He also said policy makers will “assess economic conditions and will consider any additional policy responses.” That means more action may be forthcoming if market turmoil spills over into the economy, with investors increasing bets on an interest-rate cut by next month.