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Bank of England secretly investigates effects of UK leaving European Union

Staff writer |
The Bank of England was forced to confirm it was secretly researching the financial impact of a possible decision by Britain to leave the European Union, after it mistakenly emailed a journalist with the details.

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The confidential email, mis-sent to the Guardian newspaper, is reported to include details of the study, dubbed Project Bookend. It also stated that the press and most staff at the Bank should be kept in the dark about the work under way, The Financial Times reports.

"The Bank blew its cover on Friday when it accidentally emailed details of the project – including how the bank intended to fend off any inquiries about its work – direct to the Guardian.

"According to the confidential email, the press and most staff in Threadneedle Street must be kept in the dark about the work underway, which has been dubbed Project Bookend.

"It spells out that if anyone asks about the project, the taskforce must say the investigation has nothing to do with the referendum, saying only that staff are involved in examining “a broad range of European economic issues” that concern the Bank," The Guardian reports.

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