King Says Carney Calm Will Guide U.K. Through Brexit Uncertainty
- Most important thing for U.K. now is a new government
- BOE governor’s credibility is intact, King says in interview
Mervyn King: Carney's Credibility Not Damaged by Brexit
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Mark Carney will help to guide the U.K. through the next few months amid political stasis after the Brexit vote, according to his predecessor as Bank of England governor.
Mervyn King said the “most important thing” for the U.K. is an effective government and opposition. Both are absent after Britain’s vote to leave the European Union prompted Prime Minister David Cameron to resign and led to turmoil in the opposition Labour Party. Concern about political leadership was one factor cited by S&P Global Ratings on Monday when it stripped the U.K. of its top credit grade.