- BoE's Governor Carney: Recent Brexit deal creates a possibility of a pick up in UK growth
Market news
7 November 2019
BoE's Governor Carney: Recent Brexit deal creates a possibility of a pick up in UK growth
- World risks slipping into low growth, low inflation but many of these dynamics occurred first in the UK
- Both reduced Brexit uncertainty and stronger world economy assumed in BoE forecasts, but neither is assured
- Now evidence that households are doing precautionary saving before Brexit
- Brexit uncertainties are weighing particularly heavily on business investment
- Reduced chance of a no-deal Brexit has pushed up sterling
- Brexit agreement reduces risk of no deal significantly
- Pick up in UK growth likely to be limited by a lack of supply capacity in the economy
- New BoE Brexit assumptions assume transition occurs over 3 years versus previous much longer transition
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