Bank of England governor Mark Carney has said the central bank has put in place "extensive contingency plans" to support the UK economy following its decision to leave the European Union.
In a speech this morning, Carney (pictured) said the bank has taken "all the necessary steps to prepare for today's events". "In the future we will not hesitate to take any additional measures required to meet our responsibilities as the United Kingdom moves forward," he added. He said there will be an "inevitable period of uncertainty and adjustment" following the decision, but the BoE is "well prepared", and stands ready to provide more than £250bn of additional funds through its normal facilities. "The Bank of England is also able to provide substantial liquidity in foreign curr...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
