Economics

BOE Sees Fallout on House Prices, Pound From No-Deal Brexit

Carney speaks about the U.K. financial industry’s Brexit preparations during a news conference in London. Source: Bloomberg

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By Fergal O'Brien

July 11, 2019 at 9:49 AM UTC

This article is for subscribers only.

The Bank of England said the risks of a no-deal Brexit have increased and warned that such an outcome could slam the pound, government bonds and house prices.

In its Financial Stability Report on Thursday, it said that “significant market volatility and asset price changes are to be expected in a disorderly” withdrawal from the European Union. It also sees a risk of “material economic disruption.”