UK’s Osborne: BOE, Treasury, FCA have contingency plans in place

UK Chancellor George Osborne is now addressing the nation/markets, in an effort to steady sentiment following the Brexit vote last Friday.

Key Quotes:

Challenges for future are clear

UK ready to confront future from position of strength

Stand by pre-vote warnings on econ outlook

BOE, Treasury, FCA have contingency plans in place

Must accept responsibility to enact referendum outcome

Reiterates BOE has stg 250 bn stability fighting fund

Kept close contact with o'seas authorities

Remain in contact with BOE on contingencies

Repeats only UK can trigger article 50

No change yet in UK rights in Europe after vote

Will maintain fiscal stability, await OBR forecasts