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Probability of No-Deal Brexit Has Decreased, Mark Carney Says

  • Election means no-deal risks are subsiding, BOE Governor says
  • Carney speaks after Financial Stability Report published
Bloomberg business news
Carney discusses the impact of last week’s general election results on the central bank’s Brexit scenarios.(Source: Bloomberg)
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Boris Johnson’s victory in last week’s general election means the possibility of the U.K. crashing out of the European Union has subsided, according to Bank of England Governor Mark Carney.

“The worst-case scenario is effectively a no deal, disorderly Brexit. The probability of that scenario has gone down because of the election result and the intention of the new government,” Carney said, speaking in a press conference after the publication of the central bank’s Financial Stability Report. “The scenario itself and the risks that we protect the system against has not itself changed, it’s just become less likely.”