BoE's Carney says UK financial firms ‘well prepared’ for elections

WASHINGTON: UK financial firms are well prepared to face risks associated with the general election unexpectedly called by the British government this week, the governor of the Bank of England said on Thursday, contrasting this year's vote with last June's Brexit referendum.

"I would make a distinction between last year's referendum, which was a binary decision for which markets and institutions were potentially not prepared... and the normal political process, which is what we're seeing happening in the UK and for which institutions are well prepared," Mark Carney said at an event of the International Monetary Fund in Washington.