Carney warns no-deal Brexit would squeeze real income
Governor informs Treasury Committee of household “real income squeeze” in the event of a no-deal Brexit
Bank of England officials were probed by the Treasury Committee on September 4 for the central bank’s view on the potential impact of a no-deal Brexit scenario, admitting some negative effects were likely.
Chief economist Andy Haldane affirmed such an outcome “would constitute a material rise and the cost of things in the shops, particularly those things which are imported from overseas.” This would predominantly be driven by a weaker pound and higher tariffs on such goods.
Governor Mark
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