BoE Backs PM's Brexit Deal

Bank of England Governor Mark Carney gave his backing to a Brexit deal struck by British Prime Minister Theresa May, saying the alternative of leaving the European Union with no transition could be akin to the 1970s oil shock. 
“We have emphasized from the start the importance of having some transition between the current arrangements and the ultimate arrangements,” Carney said on Tuesday. 
May agreed with Brussels last week on a deal to withdraw Britain from the EU in four months, Reuters reported.