BoE increases euro supply and activates ECB swap line
Financial policy committee warns that no-deal Brexit risks financial instability
The Bank of England will increase its provision of euros to UK-based banks, backed by its activation of a euro swap line with the European Central Bank, it announced today (March 5).
The BoE nonetheless warned there was likely to be “significant” market volatility and some chance of deeper financial instability if the UK left the European Union without an agreement.
The government of UK prime minister Theresa May has currently fixed March 29 as the date when the UK will leave the bloc. But UK
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