Carney speech: Level of uncertainty and proximity of Brexit date is having much bigger impact on business

Bank of England Governor Mark Carney is now responding to questions from the press with key quotes, via Reuters, found below.

• Core of UK financial system ready for whatever form Brexit takes.
• Central expectation is that we will have higher uncertainty but some kind of Brexit arrangement.
• Level of uncertainty and proximity of Brexit date is having much bigger impact on business.
• Uk has lost c.1.5% of GDP relative to what BoE expected just before referendum.

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About Mark Carney 

Mark Carney is Governor of the Bank of England and Chairman of the Monetary Policy Committee, Financial Policy Committee and the Board of the Prudential Regulation Authority. His appointment as Governor was approved by Her Majesty the Queen on 26 November 2012. The Governor joined the Bank on 1 July 2013.