The head of the Bank of England, Mark Carney, gave an interview to the TV channel

Mark Carney, Head of the Central Bank of England, gave an interview to ITV. He noted that MPs and entrepreneurs in both the UK and Europe recognize the important role of the transition period. It will help to mitigate the consequences of Brexit and conclude a full-fledged trade agreement.

Mark Carney also stressed that the negotiators understand the importance of a treaty on trade and investment cooperation between the UK and the European Union. This will ease the shock after March 2019, when the country leaves the EU.

Mark Carney assured that the Bank of England will take all necessary measures to provide substantial support to the British economy. This will be done regardless of the form of agreement with Brussels.

Many large companies are seriously concerned about the slow progress in the negotiation process between London and Brussels. They don’t rule out the possibility of having to activate an emergency plan of action. It also includes the departure of companies to other countries in the region.

On November 2, the British Central Bank decided to raise the rate to 0.5 percent. It was the first time in a decade.