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BoE's Carney urges flexibility as the UK leaves EU trading rules behind

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02/14/2020 | 04:23am EST

Britain needs to preserve flexibility for rulemaking in the financial sector as it leaves EU trading rules behind, Carney said on Thursday (February 13).

Britain left the EU last month but will apply the bloc's rules until December, after which new trading terms will be needed.

The BoE governor and other central bankers are watching closely for how much their economies might be hit by the new coronavirus which has led to shutdowns of companies and even entire cities in China.

Previous viral outbreaks caused only temporary economic losses, he said, with most losses bouncing back.

Carney, who steps down from the BoE in March and has accepted a role as a U.N. envoy on finance and climate change, praised oil giant BP's target to curb its carbon emissions to zero by 2050, saying the company showed "true leadership".

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