BOE governor Carney still testifying to the TSC 17 Oct
- absolutely in EU's interest to have one
- BOE working on contingency for hard Brexit
- EU banks have done much less preparation for Brexit than UK-based firms
- should not presume that BOE will authorize all branches of EU banks currently active in UK
- if UK leaves without a deal EU will be short of financial services capacity in short term
Ntg new in the contingency plans. That's been said many times before and prudent preparation.
Meanwhile GBPUSD continues to slide an testing 1.3200. EURGBP up through 0.8900. Hawks not happy with the tones of Carney & Co this morning.
