Complaint
A reader of this article complained that it misleadingly presented the Bank of England’s Financial Stability Report of November 2018 as containing a forecast for the impact of a disorderly Brexit on the UK economy, and that the article remained misleading despite successive alterations. Â
Outcome
The Financial Stability Report contained the results of stress-testing the UK banking system, and found that the system was resilient even in the event of “a severe economic shock†resulting from “a disorderly Brexit, with no deal and no transition periodâ€, and the ECU agreed that the article as originally worded conveyed the misleading that the Bank had issued an economic forecast for that contingency. However, the effect of the successive alterations was to make clear that the economic impact envisaged in the Bank’s report related to the most extreme and least probable of a range of scenarios and, in the ECU’s judgement, they sufficed to resolve the issues of complaint.
Resolved