Carney Defends Brexit Warnings
Mark Carney signaled the Bank of England could cut interest rates within months as the central bank tries to shield an economy rattled by the shock of Brexit and the chaos engulfing Britain’s political classes. In his second televised address since the country voted to leave the European Union, the governor said on Thursday that officials won’t hesitate to act when it comes to safeguarding the economy or the resilience of the financial system. The BOE will also continue its liquidity auctions for banks on a weekly, rather than monthly, basis and consider a “host of other measures.” The pound slumped as investors increased bets on a rate cut by August. Credit Suisse Chief Investment Officer for UK & EEMEA Michael O'Sullivan discusses the Brexit response from central banks with Bloomberg's Anna Edwards on "Countdown."
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U.K.'s May Calls for Two-Year Brexit Transition Period
55:03 - U.K. Prime Minister Theresa May speaks in Florence, Italy on the need for a period of implementation after the nation leaves the European Union. (Source: Bloomberg)