These Five Leaders Are on the Hot Seat in 2019

There is no precedent for the situation Bank of England Governor Mark Carney may find himself in next year. If the U.K. crashes out of the European Union in March without a deal, he’ll be on the front line of efforts to repair the damage.

A swift drop in the pound would likely be the most immediate reaction, as it was in the aftermath of the Brexit referendum in 2016. But the dislocation of the British financial system and the potential disruption to transport and supply chains may inflict more lasting harm. The BoE’s response could include emergency interest-rate cuts to bolster growth—or even increases to support the currency—plus a flood of liquidity to banks.