January 9, 2019 / 4:51 PM / 10 days ago

Market turmoil due to global trade and growth jitters, not just Brexit - Carney

FILE PHOTO: The Governor of the Bank of England, Mark Carney hosts a Financial Stability Report news conference at the Bank of England, in London, Britain November 28, 2018. Daniel Leal-Olivas/Pool via REUTERS

LONDON (Reuters) - Recent financial market volatility reflects concern about a possible global economic slowdown and the trade dispute between the United States and China, not just Brexit, Bank of England Governor Mark Carney said on Wednesday.

Carney said Brexit’s impact had been most obvious in weakening sterling, and reiterated that a disruptive withdrawal from the EU could lead to further depreciation, in comments in an online forum hosted by the BoE.

“More recently, Brexit uncertainties have been starting to show up more in other assets prices too, like UK-focused equity prices and bank funding costs. How markets perform over the coming year will depend on how things develop globally, as well as on Brexit,” he said.

Reporting by David Milliken, editing by Andy Bruce

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