EU Vote is the Biggest Risk to UK Financial Stability - Investec
Research Team at Investec, notes that yesterday Bank of England Governor Mark Carney warned if Britain leaves the European Union, the City of London should expect its preeminent role in the global financial system to fade.
Key Quotes
“Dr Carney also spoke of the uncertainty the referendum is causing and highlighted again the EU vote is the biggest risk to domestic financial stability. The central bank chief justified the Bank of England's stance, saying it would be “political to suppress important judgments”. The pound continued to rally yesterday, still charging higher since the Treasury released their 200 page Brexit analysis document that warned of major damage to the UK economy.”
(Market News Provided by FXstreet)
