Brexit uncertainty could shrink UK economy by 2% – BoE deputy

Dave Ramsden
Dave Ramsden

The UK economy could shrink by 2% by 2020, should Brexit uncertainty continue, the Bank of England’s new deputy governor for markets and banking said on November 20.

In his first speech since joining the BoE, Dave Ramsden said the biggest risk to the UK economy was the current uncertainty about the UK’s eventual trading arrangements: “Were uncertainty to persist at current levels or even increase further, I could see a case for demand growth, and in particular investment growth, being weaker.”

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