KPMG calls for Brexit transition to avert UK economic collapse
A transitional agreement of three years is imperative to sustain the UK economy post-Brexit, says a new KPMG study released on Monday. Such a deal would be more about averting “a chaotic exit that will damage the UK economy” than an attempt “to stall Brexit”, said Karen Briggs the head of Brexit at the professional services firm. (Independent)

Carney calls for new benchmark to replace Libor
Mark Carney, the Bank of England Governor, has called for the introduction of the Sterling Overnight Index Average as a replacement for the current London Interbank Offered Rate. Carney made the case for “Sonia” - fixed against lenders’ overnight cost of funding - in preference to the “judgement-based” Libor at a meeting earlier this month. (Times)