Britain’s economy not strong enough for no-deal Brexit- Bank of England’s Carney

LONDON, ENGLAND, UK (FEBRUARY 7, 2019) (BLOOMBERG POOL) – The Bank of England’s governor Mark Carney warned on Thursday (February 7) that despite companies’ contingency efforts the UK’s economy is not prepared for a no-deal Brexit.

Carney told journalists in London said that “the fog of Brexit” – the uncertainty surrounding any EU exit deal – was a factor “driving the current outlook for growth and inflation”.

The BoE Governor was speaking at a news conference after the Bank’s policymakers had voted unanimously to keep rates at 0.75 percent as expected.

The Bank said Britain faced its weakest economic growth in 10 years in 2019, blaming mounting Brexit uncertainty and the global slowdown, but it stuck to its message that interest rates will rise if a Brexit deal is done.

Carney also stated he was “surprised” by comments from European Council President Donald Tusk that there was a “place in hell” for British leaders who sold Brexit with no plan for delivering it.

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  • Bank of England
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  • Group of Thirty
  • Mark Carney
  • Brexit
  • Bank of England
  • United Kingdom
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  • Economic effects of Brexit
  • Brexit negotiations

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