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MNI BRIEF: BOE Ramsden: Market Shock Risk From No Deal

LONDON (MNI)

Bank of England Deputy Governor Dave Ramsden said Tuesday he "wanted to be very clear that negative rates remain in the toolbox" and that the Bank was continuing with its assessment of the practical issues. Ramsden, who has been portrayed as a negative rates sceptic, instead cited them as an example of the Bank continuing to innovate in policy.

In a Q&A session following an online speech, he also said that there was a risk of market instability if there was a no deal Brexit, with markets pricing in a 20-30% chance on a no-deal according to him. He said that the impact of a no-deal Brexit would depend on how much cooperation there would subsequently be with the EU.

MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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