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Bank of England to supply 250 billion Pounds to help markets after Brexit vote

Global financial markets plunged as results from Thursday's referendum showed a near 52-48 per cent split for leaving. Photograph: (Getty)

Reuters London Jun 24, 2016, 10.02 AM (IST)
Bank of England governor Mark Carney said on Friday the central bank was ready to provide 250 billion Pounds ($345.93 billion) of additional funds to support financial markets after Britain voted to leave the European Union.

"We are well prepared for this. Her Majesty's Treasury and the Bank of England have engaged in extensive contingency planning and the Chancellor and I have remained in close contact, including through the night and this morning," he said.

Carney also said the central bank will consider whether to take additional policy responses in the coming weeks.

"In the future we will not hesitate to take any additional measures required to meet our responsibilities as the United Kingdom moves forward," he said.

Global financial markets plunged as results from Thursday's referendum showed a near 52-48 per cent split for leaving.

(Reuters)
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