BoE Governor Mark Carney said the central bank “does not focus on the most likely outlook” in Brexit preparation. Instead, BoE focuses on the possible consequences of a disorderly, cliff-edge exit from the EU, however unlikely that may be.” That is, Carney added “we aren’t hoping for the best, we’re preparing for the worst in several ways.”
On global financial regulations, Carney emphasized that “we need to tailor not taper. It is critical that the process of evaluation and adjustment does not compromise overall system resilience.”
