Carney: Britain ‘would be booming’ if it wasn’t for Brexit

Bank of England Governor Mark Carney has said investment has slowed since the EU referendum with the economy growing when it should be booming. Uncertainty over the UK’s trade deal with the EU had dampened foreign and domestic investment. He added that if the Brexit deal leaves the UK with “materially less access” to the EU single market then the economy “is going to need to reorient and during that period of time it will weigh on growth.” In the event of a bad Brexit deal, the Bank of England would not be able to cut future interest rates because of inflationary pressure, he said.

The Daily Telegraph The Guardian

Posted 06/11/2017