The Bank of England (BoE) has warned of the rising risk of a no-deal Brexit in its latest Financial Stability Report.
In recent months, the likelihood of a no-deal Brexit has become an increasing possibility as the Conservative leadership race continues, with both Jeremy Hunt and Boris Johnson recently pledging to leave the EU on 31 October with or without a deal. This prompted sterling to fall to close to its lowest level since April 2017, trading below the $1.25 mark at $1.2455 on 10 July. Bank of England warns of junk debt crisis risk The BoE's latest report said that "in a disorderly Brexit, a range of UK asset prices - including the sterling exchange rate, equities, corporate and government debt...
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