Bank of England: Plans for Scotland currency uncertainty

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BankofEngland1 Reuters.

London - The Bank of England has contingency plans in the event that a forthcoming referendum on Scottish independence undermines Britain's financial stability, Governor Mark Carney said on Wednesday.

Speaking at a news conference in London ahead of a Scottish independence referendum on September 18, Carney said the bank was ready to deal with any eventuality regardless of how Scots vote.

Polls currently show they are likely to reject a breakaway.

“Uncertainty about the currency arrangements could raise financial stability issues,” Carney told reporters.

“We have contingency plans.”

Scottish National Party leader Alex Salmond says an independent Scotland could keep the pound even though British government ministers have repeatedly ruled out a currency union. - Reuters

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