Carney Says Brexit Transition Period Is Vital for U.K. Economy
Mark Carney during the Financial Stability Report news conference on Nov. 28.
Photographer: Simon Dawson/BloombergThis article is for subscribers only.
The U.K. economy needs a transition agreement to support it through the Brexit process, no matter what form the nation’s exit takes, according to Bank of England Governor Mark Carney.
“It is in the interests of the country to have some time to transition to whatever relationship there is,” he said in an interview with the BBC’s Today Program on Thursday. “We need some time to get ready for it and that is absolutely agnostic. It doesn’t take a preference to the type of Brexit but it is sensible to take a sober, objective view about how much time we need to get to where we’re going.”