Carney Defends BOE's Publication of Worst-Case Brexit Analysis

Mark Carney defended the publication of the Bank of England’s Brexit scenarios, telling Parliament that the institution couldn’t hold back its analysis once lawmakers had asked for it.

The BOE last week released a report on Prime Minister Theresa May’s deal and other Brexit outcomes. Its worst-case scenario for a chaotic exit sees the economy shrinking by 8 percent within a year, property prices plunging almost a third and the pound losing a quarter of its value to below parity with the dollar.