(VOVworld) - Brexit is no longer the biggest risk to the UK financial system, Bank of England (BoE) Governor Mark Carney declared on Wednesday in front of the House of Commons Treasury Select Committee.

Bank of England Governor Mark Carney (Source: Getty Images)

Carney said the BoE has taken steps to reduce the negative impacts of Brexit on UK markets. He warned policy makers that the EU faces greater financial risks from Brexit than Britain does. His statement contradicted the BoE’s previous opinion back in June that Brexit would be the biggest risk to UK financial stability, which sends the pound sterling to the 3-month low.