Carney Says BOE Discussing No-Deal Brexit Powers With Treasury

The transcript discusses the impact of Brexit on various markets, highlighting the rebound in sterling and market volatility. It covers short-term market movements, regulatory powers needed for a no-deal Brexit, and the importance of statutory instruments for financial stability. The discussion also touches on temporary recognition for EU firms and the government's intent to ensure business continuity.

What was the market's initial reaction to the Brexit developments in Parliament?

• A sharp rebound in sterling

• An increase in inflation rates

• A decrease in foreign investments

• A decline in the stock market

What short-term market movement was observed following the Brexit developments?

• A decrease in inflation rates

• A significant drop in bank funding spreads

• A rally in gilts

• A surge in foreign investments

What is the purpose of the secondary legislation mentioned in the transcript?

• To increase foreign investments

• To onshore EU legislation related to financial services

• To decrease inflation rates

• To improve public market commentary

Which statutory instrument is particularly important for financial stability?

• Amendment related to inflation rates

• Amendment related to over-the-counter derivatives

• Amendment related to public market commentary

• Amendment related to foreign exchange rates

What is the significance of temporary recognition for EU firms?

• It reduces the volatility in the foreign exchange market

• It decreases the need for statutory instruments

• It provides a clear signal for firms to continue operations in the UK

• It allows firms to increase their stock market value

What is the government's intent regarding ongoing commerce in the UK?

• To increase inflation rates

• To facilitate ongoing commerce

• To halt all EU firm operations

• To decrease foreign investments

What is the role of the Treasury in the context of a no-deal Brexit?

• To ensure minimum authorities are given to regulators

• To improve public market commentary

• To decrease inflation rates

• To increase foreign investments