Bank not predicting no-deal house price slump, says governor

Mark Carney says he set out to cabinet worst-case scenarios used in bank stress tests

Mark Carney has said the Bank of England is not predicting a property market crash in the wake of a no-deal Brexit, as he sought to clarify a doom-laden briefing given to the cabinet on Thursday.

The Bank governor said a housing slump and other outcomes including a double-digit unemployment rate were worst-case scenarios used in stress tests for British banks, designed to ensure there is no repeat of the 2008 financial crisis.

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