BOE‘s Carney Accused of Bias Over `Brexit' Stance

Mark Carney was accused of jeopardizing the Bank of England’s credibility in the European Union debate on Tuesday as he faced a fiery line of questioning from U.K. lawmakers. The opening of the BOE governor’s hearing on the economic and financial costs and benefits of EU membership was dominated by a testy exchange with pro-“Brexit” lawmaker Jacob Rees-Mogg. While BOE officials have spent months trying to avoid the political battle, Rees-Mogg said the central bank’s report on the topic supported the government’s position of remaining part of the bloc. Carney is testifying alongside Deputy Governor for Financial Stability Jon Cunliffe, who told lawmakers he thought Prime Minister David Cameron’s deal to reform the relationship with the EU was “very significant and very material.”

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29:51 - Bloomberg Surveillance hosted by Tom Keene and Francine Lacqua. Guests include Steven Major, global head of fixed income at HSBC, Stan Collender, executive vice president at Qorvis MSLGROUP, and Brian Levitt, senior investment strategist at OppenheimerFunds. (Source: Bloomberg)
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