Bank of England: no-deal Brexit could force interest rate cut - business live
(The Guardian Business News)

Rolling coverage of the latest economic and financial news, as the Treasury committee quizzes BoE policymakersCarney: No-deal fears are rising, and hurtingFull coverage: Mark Carney is facing MPs nowCarney: Rates would rise after smooth Brexit......but no-deal could require more stimulusEarlier:Introduction: Oil and bitcoin rally in nervous marketsBitcoin smashes through $12,000 to a 15-month high 12.34pm BST Mark Carney finally turns to another issue -- investment funds, which are in the spotlight since Neil Woodford locked down his equity income fund to halt a wave of redemptions.Some funds are `built on a lie`, says Carney severely, the idea that you can have daily liquidity from a fund that holds illiquid assets. 12.13pm BST Q: Are low interest rates allowing an army of zombie firms to `stagger on`, endangering financial stability, asks Steve Baker MP.Bank of England policymaker Michael Saunders isn´t too worried. He says the number of firms with low profits compared to their interest payments are stable. Yes, there would be more of them if interest rates were higher -- but that could also drive firms to the wall, hurting the wider economy (and creating another wave of zombies)..... Continue reading...