MARGATE, England - Bank of England Governor Mark Carney said economic data published earlier on Thursday reflected how underlying growth was a bit weaker than the central bank had expected.
Carney said at the unveiling of Britain’s new 20-pound banknote that BoE had forecast growth of 0.2% in the third quarter. Figures from the Office for National Statistics suggested the economy did not fall into recession before the Oct. 31 Brexit deadline with gross domestic product in the three months to August 0.3% higher than in the previous three months.Carney said sterling had been more volatile than usual, reflecting the wide range of potential Brexit outcomes.
Carney has previously said he expects the BoE will need to cut interest rates if Britain’s economy is hit with the shock of a no-deal Brexit.Carney also sought to play down speculation about the possibility that he will stay on beyond his scheduled Jan. 31 departure date from the British central bank.
Wait til you hard Brexit!
Actually UK economy grew by 0.3% in previous three months. But focus on August only, down to 0.1%, is the headline. Most people only read the headlines and Reuters among others, BBC etc, want to promote bad news for UK ignoring good news. Carney is leaving BoE.
Really ...man in the street could have predicted that...NoDealBrexit etc etc etc and then a government that has run the country empty and now it cannot run....
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