BoE's Carney: Brexit no longer UK's biggest financial risk

Though exit process could 'amplify' other risk areas

Bank of England governor Mark Carney has told MPs he no longer believes Brexit to be the biggest risk to the financial stability of the UK.

He told members of the Treasury Select Committee that steps taken by the BoE before and after the vote have helped to reduce the danger posed by the EU referendum. Carney (pictured) said the risk was greater for continental Europe rather than the UK, according to the BBC. However, the governer added the overall danger of Brexit was still "elevated" as it has the ability to "amplify" four other risks to the economy: mounting consumer credit, a weakened commercial real estate market, the current account deficit and the fall in the value of sterling. This is the second time the BoE ha...