The vote for Brexit has created a “challenging period of uncertainty and adjustment” Bank of England policymakers have said.
In a quarterly update on the health of the financial system on Thursday, the Bank’s policy makers also said the UK’s withdrawal from the European Union would not be used as a way to reduce regulation on the banking sector.
The Bank also conducted its annual assessment of the help-to-buy scheme, which ends its three-year course at the end of 2016, and said its closure would not lead to mortgage lending drying up or an increase in the size of deposits required to gain a home loan.
The financial policy committee, chaired by the Bank’s governor Mark Carney, focused on the risks posed by Brexit and the “high degree of political and policy uncertainty in many advanced economies”.
via The Guardian