Bank of England Governor Mark Carney: Britain’s exit from the European Union could lead to a “technical recession”

Market news

12 May 2016

Bank of England Governor Mark Carney: Britain’s exit from the European Union could lead to a “technical recession”

The Bank of England (BoE) Governor Mark Carney said at a press conference on Thursday that Britain's exit from the European Union could lead to a "technical recession," adding that the central bank would do everything to cushion a shock. He pointed out that it would need time to offset the effect of shock.

"Monetary policy cannot immediately offset all the effects of a shock," he said.

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