Hard Brexit the Most Likely Scenario, Greene Says

The transcript discusses the failed Brexit negotiations and the increased likelihood of a hard Brexit or no deal scenario. It highlights the EU's firm stance on the backstop deal and the border issues between Ireland and Northern Ireland. The market's reaction, particularly in terms of sterling and rate hikes, suggests a lack of preparedness for a no-deal Brexit. The UK government has not adequately planned for contingencies like medicine and flights. Although October was a soft deadline, further planning is necessary if no deal is reached.

What is the current market sentiment regarding a rate hike in relation to Brexit negotiations?

What are the potential consequences if the UK government does not start planning for a no-deal scenario?