You are here: Home » Reuters » News
Business Standard

Bank of England sees weakest UK outlook since 2009 on Brexit, global slowdown

Reuters  |  LONDON 

By William Schomberg and David MillikenLONDON (Reuters) - The Bank of England said Britain faces its weakest economic growth in a decade this year as uncertainty over Brexit mounts and the global economy slows, but interest rates will eventually rise if an EU divorce deal is done.While other major central banks have signalled they will hold off from raising borrowing costs, the BoE kept its message that gradual and limited rate rises lie ahead for Britain as long as, in just 50 days' time, a no-deal Brexit is averted.BoE Governor Mark Carney said "the fog of Brexit" was causing tensions in ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Thu, February 07 2019. 23:26 IST