Carney Says Worst-Case Brexit Scenario Is Unlikely to Happen
(Bloomberg) -- Bank of England Governor Mark Carney says there is a low probability of the worst-case Brexit scenario materializing.
- “Tail risk is tail risk,” he told a panel of lawmakers questioning policy makers about the BOE’s Brexit scenarios published last week.
- There is a “low probability that all these risks would happen at the same time. It’s not just a question of the formal trade barriers that come into play but also shorter-term disruption in terms of port infrastructure and other logistical disruptions. Also a fairly severe market reaction and a shock to confidence”
- Note: Carney Says BOE Ready for the Worst in Brexit Recession Warning
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