LONDON (Reuters) - Bank of England Deputy Governor Dave Ramsden said on Tuesday that financial markets are pricing around a roughly one-in-five chance that Britain and the EU will fail to strike a trade deal ahead of the Dec. 31 end of the Brexit transition period.
“At the moment, markets are probably pricing in about a 20%, maybe 20-30% chance of no-deal, so you might get some market disruption,” Ramsden said, answering questions from audience members following a speech to the University of Nottingham.
“But what you wouldn’t, through the work that we’ve done through the financial policy committee - we’ve made sure as far as you can that you wouldn’t get a wider financial stability shock.”
Reporting by Andy Bruce; editing by Costas Pitas
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