Carney to talk on Brexit

marketsforu

Bank of England Governor Mark Carney is scheduled to deliver a speech at 10 BST regarding Britain’s membership of the European Union. Carney’s intervention comes on the back of the launch of rival campaigns to influence voters ahead of the EU membership vote that’s been promised by Prime Minister David Cameron by the end of 2017.

The majority of opinion polls have shown Britons favour staying in the EU as opposed to leaving, however two recent polls have shown the margin for the majority shrinking. On Britain’s EU membership, Carney said in May it was important that the British government provide clarity on how it will proceed with the referendum. A speech delivered by the Canadian-born central banker prior to the 2014 Scottish independence referendum was cited by opponents of a breakaway as a reason why Scotland would be unable to keep using the Pound if it split from Britain.

Last month, BOE’s Deputy Governor Ben Broadbent told Reuters that the bank would monitor the risk related to uncertainty around the referendum as it could make it harder for the country to finance its large current account deficit.