The Bank of England has stepped up its warnings about the economic risks if Britain votes to leave the European Union.
In his starkest statement yet UK central bank Governor Mark Carney
said the economy would slow “materially”, even falling into recession,
that the pound could lose value “sharply” and unemployment would probably rise.
He told reporters after a meeting of the bank’s Monetary Policy
Committee: “Material slowdown in growth, notable increase in inflation,
that’s the MPC’s judgement. It’s a judgement
not based on a whim, it is the judgement based on rigorous analysis and
careful consideration. Of course there’s a range of possible scenarios
around those directions which could possibly include a technical
recession.”
A technical recession is two consecutive quarters of GDP decline.
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Source: Euronews
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