Brexit vote’s immediate risks have diminished, says Mark Carney
British central bank chief Mark Carney tells MPs that the immediate risks arising from the Brexit vote have "diminished" and the bank helped avert problems
London — Bank of England governor Mark Carney launched another defence of the BoE on Wednesday, saying its actions helped avert financial instability in the wake of June’s Brexit referendum. Political risk weighed on the pound, which fell to its lowest level since October before he spoke. In response to questions from MPs in London, Carney tried to distance himself from the bank’s chief economist, Andy Haldane, who said forecasters faced a crisis after the UK proved unexpectedly resilient in the second half of last year. That policy makers’ actions led to less disruption of the financial industry "perversely" caused them to be seen as incorrect, Carney said. "One of the advantages of banishing group-think is that one doesn’t always agree with everything that’s said by colleagues," Carney said, referring to Haldane’s suggestion that they suffer from a dearth of new ideas.
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