BoE sees 'less severe' impact of no-deal Brexit

The Bank of England believes the impact of a no-deal Brexit on the economy would be "less severe" than previously forecast, governor Mark Carney said Wednesday.

In a letter to the chair of a cross-panel committee of MPs, BoE governor Mark Carney said "improvements in preparedness mean that the appropriate set of assumptions to underpin a worst case scenario would now be less severe than those used in the disorderly scenario published in November".