Carney speech: UK exporters to EU show a mixed picture on no-deal preparedness

Bank of England (BOE) Governor Mark Carney is now responding to questions from the press after delivering his prepared speech at a press conference following the release of the central bank’s Financial Stability Report (FSR). Below are some key quotes as reported by Reuters.

"Cannot fully insulate ourselves from financial spillovers from Europe in case of no-deal Brexit."

"UK exporters to EU show a mixed picture on no-deal preparedness, not all the way there."

"No-deal Brexit would be a major economic adjustment, virtually instantaneously."

Carney's comments don't seem to be impacting the British pound's market valuation and the GBP/USD pair was up 0.3% on the day at 1.2540.