Bank of England Will Give View on Brexit Deal, Carney Says

Mark Carney thrust the Bank of England into the Brexit debate again, saying he’ll give a thumbs up -- or down -- to any divorce deal that Prime Minister Theresa May reaches with the European Union. “We will have to give our view on whether or not the arrangements are consistent with our ability to fulfill our statutory responsibilities,” the BOE governor said Tuesday, testifying to lawmakers on the Treasury Committee in Farnborough, U.K. The central bank is responsible for maintaining monetary and financial stability.


Brexit could hurt euro zone economies: ECB's Nowotny

British Foreign Secretary Boris Johnson and Brexit minister David Davis departed over Prime Minister Theresa May’s plans to leave the European Union, leaving the British leader’s Brexit plans in ruins. The ECB Bank is following the fallout from Britain’s efforts to negotiate its departure, Nowotny said, highlighting it as one of the three main threats to economic growth in the 19 countries which use the single European currency. Read more...

Pound down as Johnson resigns

The pound reversed gains on Monday amid fresh Brexit uncertainty after Boris Johnson resigned as British foreign secretary, helping the dollar pull back from three-week lows. GBP/USD was down 0.16% to 1.3273 by 10:17 AM ET (14:17 GMT), off an earlier high of 1.3363.


Brexit is killing investment in UK car industry

The Society of Motor Manufacturers and Traders said Tuesday that investment in new models, equipment and facilities in the United Kingdom was £347 million ($460 million) in the first half of the year, compared to £647 million ($860 million) in the same period of 2017. The dramatic decline underscores fears that customs checks resulting from Britain's departure from the European Union could hold up parts shipments needed to keep auto factories running smoothly. Read more...

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