Latest Mark Carney News

UK firms step up preparations for a 'no-deal' Brexit

Mar. 21, 2019 10:30 AM EDT

LONDON (AP) — U.K. companies have ratcheted up their preparations for a disorderly "no-deal" Brexit as best they can over the past couple of months, the Bank of England said Thursday. With the prospect of a chaotic Brexit potentially eight days away, a survey by the central bank's agents showed that around...

Stockpiling spreads in UK economy ahead of Brexit

Mar. 5, 2019 12:15 PM EST

LONDON (AP) — Stockpiling of goods ahead of Brexit, already evident among British manufacturing firms uncertain about the path ahead, is coming closer to home. Households alarmed by reports of potential shortages in the event of a "no-deal" Brexit are beginning to stockpile ahead of the country's scheduled...

The Latest: Bank chief updates outlook for UK post-Brexit

Mar. 5, 2019 11:37 AM EST

BRUSSELS (AP) — The Latest on Brexit (all times local): 5:20 p.m. The head of Britain's central bank says recent "constructive developments" will help limit the scale of any recession that would occur if Britain leaves the European Union without a withdrawal deal. Bank of England Governor Mark Carney said...

As Brexit looms, UK 'preppers' stock up and hunker down

Mar. 1, 2019 10:39 AM EST

LONDON (AP) — For almost as long as Britain and the European Union have been wrangling over Brexit, Melvin Burton has been preparing for a bumpy landing. He's growing vegetables, drying fruit and buying in bulk. He reels off the cornucopia of cans filling his shed and the cupboard under his stairs: "Tomato...

The Latest: UK says businesses not ready for no-deal Brexit

Feb. 26, 2019 1:49 PM EST

LONDON (AP) — The Latest on Britain's negotiations to leave the European Union (all times local): 6:15 p.m. The British government says most businesses have not adequately prepared for the possibility of the country leaving the European Union without a divorce agreement. The Department for Exiting the...

Pound jumps as economic risk to UK of 'no-deal' Brexit eases

Feb. 26, 2019 12:17 PM EST

LONDON (AP) — The prospect of Britain suffering an economic shock next month eased Tuesday after the British government paved the way for a delay in the country's departure day. Confirmation that the government is mulling a Brexit delay turbo-charged the pound, which posted one of its biggest gains since...

The Latest: EU official annoyed by lack of Brexit progress

Feb. 12, 2019 11:59 AM EST

LONDON (AP) — The Latest on Britain's exit from the European Union (all times local): 4:55 p.m. The European Parliament's chief Brexit official is increasingly exasperated by the lack of clear British proposals coming from London seeking to unblock the current deadlock. Guy Verhofstadt met with the British...

May delay: UK PM asks lawmakers for more time on Brexit

Feb. 12, 2019 10:30 AM EST

LONDON (AP) — British Prime Minister Theresa May urged restive lawmakers Tuesday to hold their nerve and give her more time to rework a divorce agreement with the European Union, heightening concerns that Brexit uncertainty will continue right up to the edge of the U.K.'s departure on March 29. With...

'Fog of Brexit' means UK could enter recession this year

Feb. 7, 2019 9:55 AM EST

LONDON (AP) — The British economy is set to grow at its slowest rate since the global financial crisis a decade ago as the "fog of Brexit" causes heightened uncertainty, the Bank of England warned Thursday. With Britain due to leave the European Union in just 50 days, the central bank said that questions...

The Latest: UK economy would be boosted by clarity on Brexit

Feb. 7, 2019 8:08 AM EST

LONDON (AP) — The Latest on the Bank of England's monetary policy decision and news conference (all times local): 1:05 p.m. Bank of England Governor Mark Carney says an easing in Brexit uncertainty could give the British economy a big boost. At a news conference after the bank kept its main interest rate...