BoE lowers forecasts amid 'cascade' of Brexit uncertainty
The UK economy isn’t ready for a no-deal, no-transition Brexit, Bank of England Governor Mark Carney said, adding that the probability of such an outcome has increased
Carney was speaking after the central bank delivered a pessimistic view of the UK’s outlook, forecasting growth this year at the lowest since 2009, while predicting a dramatic slump in investment and lowering its prediction for pay gains. The “fog of Brexit” is also creating tensions, Carney said.
The UK is now just 50 days away from a March 29 deadline to leave the European Union, and an agreement for its new...
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