Britain’s central bank has left borrowing costs unchanged, and predicted that the slowdown in economic growth this year is temporary
- Latest: Carney holds press conference
- Governor blames Beast from the East for poor growth
- BREAKING: BoE leaves borrowing costs unchanged
- 2018 growth slashed
Q: The Office for National Statistics has just lowered its estimate of the UK trade deficit by a quarter – so how reliable is Britain’s data, and does it mean that the UK is still ‘reliant on the kindness of strangers’ [an old Carney quote]
Q: What impact would a hard Brexit have on the Bank’s economic forecasts?
Mark Carney replies that a hard Brexit would prompt a change the Bank’s forecasts. But such a scenario it’s not currently included in its economic projections, which are based on a ‘transition deal’ being agreed and implemented.