Brexit dilemma puts Bank of England in wait-and-see mode

The bank's new lower growth forecasts specifically exclude the possibility that the UK will fail to reach a withdrawal agreement with the EU

2nd August, 2019
Bank of England governor Mark Carney

The bank on Thursday published updated forecasts that acknowledged the UK's economy could follow a “wide range of paths” in the coming years but specifically excluded the possibility that Britain would fail to reach a withdrawal agreement with the European Union.

“They won’t make any assumptions about how the government might change policy if it’s not been announced and, to be fair, that’s completely reasonable,” said George Buckley, an economist at Nomura. The...

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