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Friday, 18 September 00:05 (GMT -05:00)



Business And Politics News

BOE Predicts Volatility In British Markets


According to Mark Carney, Governor of the Bank of England, the Brexit-related risks have already started implementing themselves. That’s why he predicts increased volatility in the local economy and financial markets.

 

 

 

 
To be more specific, the BOE Governor assumes that the risks associated with the UK’s decision to quit the European Union are already there and affecting the entire economic and financial system of Great Britain. This is what is said in the recent report on the UK’s financial system, which is released twice a year by the Bank of England. The thing is that the Brexit is eventually going to trigger a long-term period of economic and financial uncertainty in the United Kingdom, which will make the UK adapt to a new reality.
 
At the same time, the United Kingdom will have to take some time to reestablish new relationships with the European Union and the entire world after quitting the EU. Basically speaking, that’s why the Bank of England in general and Mark Carney in particular expect increased volatility in the UK’s economic and financial environment.
 
The Bank of England is reported to be taking specific steps to stabilize the situation in order to avoid it going out of control.  The Bank of England’s report says that because of the uneasy situation, the amount of vulnerable British households may increase in the coming months.
 

At the same time, the Bank of England has reported about some measures aimed at stabilizing the situation. In particular, the central bank decided to cancel the decision to increase the capital requirements approved tin March 2016. 

 

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