Bank of England (BOE) governor Mark Carney, while speaking last night, defended the central bank’s right to speak on Brexit and warn as necessary from the uncertainties that may arise from the event. Over the past weeks, BOE governor faced criticism from exit backers that the bank is being influenced by the treasury department led by George Osborne. Previously at some occasions carney refrained from speaking on Brexit risks but came out defending the stay or warning against exit risks at subsequent meetings.

While speaking before House of Lords select committee Mr. Carney said it is the bank’s duty to report its judgments about the risks of leaving European Union. According to him it is the fundamental standards of an open and transparent central bank.

He said that reporting major risks not political but not reporting is, since the event may influence central bank’s policy actions and it is necessary to build contingency plans accordingly. So the banks will keep communicating transparently about the risks involved and measures being taken as part of the plan to contain any risks.

Market is expecting in an event of an exit the central bank may have to cut rates, despite a drop in Sterling.

Pound is currently trading at 1.44 against Dollar.