BOE Policymakers Say Brexit Vote Has Created Uncertainty

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

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza