Mark Carney is expected to outline some Brexit risks at the Bank’s Inflation Report on Thursday
by Szu Ping Chan
Blame it on Brexit fears. That’s been the consensus among economists in recent weeks after a string of closely-watched surveys showed the UK recovery is running out of steam.
Growth is down. Investment is down. Optimism is weak. It’s easy to blame the EU vote.
After all, Mark Carney, the Governor of the Bank of England, has described it as the “biggest domestic risk” facing the economy.
A massive fall in the pound in February and the slowing economy have heightened concerns about the recovery. When people are worried, they stop spending and start saving.But how much of this is really down to jitters about the outcome of the June 23 poll, and how much reflects the current global malaise?