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Oil Up As Saudi Raises Prices, Omicron Fears Subside

By David Robinson
     LONDON (MNI) - The Bank of England's will send its detailed Brexit scenario
analysis to the UK parliament's cross-party Treasury Committee on Nov. 29.
     The work is politically sensitive, as it will look at various scenarios
including the economic impact of no deal. A date for making the analysis public,
and not just available to the Committee, has yet to be finalized and will be
discussed by the Committee and the BOE, MNI understands.
     BOE Governor Mark Carney and colleagues are then set to attend an evidence
session with the Treasury Committee the following week to discuss the scenarios.
Possible dates include Dec. 3, 4 or 5.
     In evidence Tuesday Carney talked about the possibility of having to
tighten monetary policy in the event of no deal on Brexit - if consumption
remains buoyant while the supply side is hit and sterling heads south.
     Carney had previously pledged to give the Treasury Committee the scenario
after the withdrawal agreement between the UK and the EU was finalized and
before parliament votes on it. EU leaders are scheduled to meet at an
extraordinary Brexit summit on November 25 to sign off on the deal.
--MNI London Bureau; tel: +44 203-586-2223; email: david.robinson@marketnews.com
[TOPICS: M$B$$$,M$E$$$,MX$$$$,M$$BE$]