Markets pricing in around 20% chance of a no-deal Brexit

Bank of England (BoE) Deputy Governor Dave Ramsden reiterated on Tuesday that the BoE is not about to implement negative rates anytime soon, as reported by Reuters.

While responding to a question about possible market reaction to Brexit, “at the moment, markets are probably pricing in about a 20%, maybe 20-30% chance of no-deal, so you might get some market disruption,” Ramsden said.

Market reaction

The GBP/USD pair largely ignored these remarks and continues to consolidate its daily gains. As of writing, the pair was up 0.4% on the day at 1.3243.

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