UK’s Osborne: BOE, Treasury, FCA have contingency plans in place
UK Chancellor George Osborne is now addressing the nation/markets, in an effort to steady sentiment following the Brexit vote last Friday.
Key Quotes:
Challenges for future are clear
UK ready to confront future from position of strength
Stand by pre-vote warnings on econ outlook
BOE, Treasury, FCA have contingency plans in place
Must accept responsibility to enact referendum outcome
Reiterates BOE has stg 250 bn stability fighting fund
Kept close contact with o'seas authorities
Remain in contact with BOE on contingencies
Repeats only UK can trigger article 50
No change yet in UK rights in Europe after vote
Will maintain fiscal stability, await OBR forecasts
Author
Dhwani Mehta
FXStreet
Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.
