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Bank of England’s Carney says UK businesses unprepared for no-deal Brexit

Bank of England's Carney says UK businesses unprepared for no-deal Brexit© Reuters. 2019 World Economic Forum (WEF) annual meeting in Davos

DAVOS, Switzerland (Reuters) – Bank of England Governor Mark Carney said on Thursday that many British businesses still face problems that have yet to be solved if Britain leaves the European Union without an agreement to smooth its transition.

“There are a series of logistical issues that need to be solved, and it’s quite transparent that in many cases they’re not,” Carney said at a panel discussion at the World Economic Forum in Davos.

Carney repeated that the BoE had room to react to a hard Brexit, adding that policy could move in either direction in such a scenario.

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Source: Investing.com

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