• Wednesday, May 25, 2016 - 05:30


    LONDON (MNI) - Standard & Poors, the international ratings agency, said the position of Sterling as a reserve currency, along with the associated benefits including the 'AAA' sovereign rating, are at risk if the UK votes against membership of the European Union on June 23.

    The full text of the S&P report follows.

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    A decision by the United Kingdom to leave the EU in the June 23 referendum could jeopardize the British pound sterling's position as a reserve currency and the associated benefits to the 'AAA' credit rating, says S&P Global Ratings in a report published today ("Brexit Is A Risk To The Reserve Status Of Sterling").

    "Sovereigns controlling a reserve currency benefit from extensive external

  • Tuesday, May 24, 2016 - 09:50


    -Carney, Colleagues Wary On Negative Rates; QE Could Be Deployed If Needed

    LONDON (MNI) - Bank of England Governor Mark Carney rejected the view that monetary policy would inevitably be eased in the event of a vote for the UK to leave the European Union, while colleagues of his on the Monetary Policy Committee held the door open to a rate cut even if there is a vote to Remain.

    Carney, giving evidence to legislators on the Treasury Select Committee, said the Monetary Policy Committee members were united in the belief that growth would likely slow and inflation rise in the even of Brexit.

  • Tuesday, May 24, 2016 - 08:06


    -Carney: Policy Direction Post Brexit Unclear Due Higher Inflation, Supply Hit

    LONDON (MNI) - Bank of England Governor Mark Carney rejected the view that monetary policy would inevitably be eased in the event of a vote for the UK to leave the European Union, while colleagues of his on the Monetary Policy Committee held the door open to a rate cut even if there is a vote to Remain.

    Carney, giving evidence to legislators on the Treasury Select Committee, said the Monetary Policy Committee members were united in the belief that growth would likely slow and inflation rise in the even of Brexit.

  • Monday, May 23, 2016 - 06:14


    -Ex-BOE Bean Says Treasury Figures On Short-Term Impact of Brexit "Reasonable Estimates"

    LONDON (MNI) - A UK vote to leave the European Union would cause an 'immediate and profound' shock to the domestic economy, Prime Minister David Cameron and Chancellor of the Exchequer George Osborne said, summarising new Treasury work on the short-term costs of Brexit.

    Former Bank of England Chief Economist and Deputy Governor Charles Bean gave his stamp of approval to the Treasury analysis.

  • Monday, May 23, 2016 - 00:36


    - Comments in Op-Ed piece in Daily Telegraph

    LONDON (MNI) - A UK vote to leave the European Union would cause an 'immediate and profound' shock to the domestic economy, Prime Minister David Cameron writes in the Telegraph Monday.

    In an op-ed jointly authored with Chancellor of the Exchequer George Osborne, Cameron says analysis by HM Treasury, due to be published later Monday, will show a Leave vote will tip the country into recession.

    According to Cameron, the Treasury forecasts 3.6% will be knocked off of GDP, with 'hundreds of thousands of people@ put out of work over the next two years.