Fall in migration after Brexit could push up inflation, says Carney

Bank of England governor says labour shortages could also raise wages in short term, but Brexit would have only modest impact on prices

A sharp fall in migrant workers coming to Britain as a consequence of Brexit could push up wages and cause a spike in inflation in the short term, according to the governor of the Bank of England.

Mark Carney was setting out his view on inflation days after the Bank’s rate-setting panel indicated it could raise interest rates for the first time in a decade.

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