Making his mark

8 March 2016 By Swaha Pattanaik Follow @swahapattanaik

Appearing before UK lawmakers, the BoE governor stopped short of formally advising Britons to stay in the European Union. But Mark Carney’s message was clear enough. Central bankers are supposed to be impartial, but fake fence-sitting would have been worse.

This content is for Subscribers only

Context News

Exiting the European Union could hurt Britain’s economy and prompt some banks to abandon London’s global financial powerhouse, Bank of England Governor Mark Carney told a parliamentary committee on March 8.

Carney said there were risks from remaining inside the EU due to the greater integration planned by the euro zone but added that Prime Minister David Cameron’s deal with other EU leaders had secured the sort of flexibility the Bank of England needed “to oversee the prudential aspects of the UK’s very large and complex financial sector”.

Email a friend

Please complete the form below.

Required fields *