Brexit pain may be coming – panel

Brexit
Brexit is likely to throw up additional challenges for the BoE this year

The negative effects forecast by many economists before the UK's vote on European Union membership are beginning to show up in data and may worsen this year, former Bank of England (BoE) officials warned today (January 31).

The economy's resilience in 2016 confounded many forecasts, but the pain may simply have been delayed, noted the group of economists during an event hosted by Fathom Consulting in London.

Former BoE deputy governor Charlie Bean said the outlook for investment was weakening. "