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Bank of England's Carney hits back at critics of Brexit scenarios
Bank of England Governor Mark Carney defended the central bank’s warnings of a potentially major economic hit from Brexit which angered lawmakers opposed to Prime Minister Theresa May’s plans for leaving the European Union. The BoE said last week that under a worst-case exit from the European Union, Britain could suffer greater damage to its economy than during the global financial crisis. Carney told lawmakers on Tuesday that the scenarios set out by the BoE were based on detailed preparatory work to ensure banks and other lenders were ready for Brexit, and were not off-the-cuff forecasts. “There’s no exam ... (full story)
