US economy

UK business uncertainty 'through the roof' – BoE's Carney


2/2
© Reuters. Bank of England press conference

2/2

WASHINGTON (Reuters) – The uncertainty facing British businesses has gone “through the roof” due to Brexit, hurting investment and posing long-term challenges for economic productivity, Bank of England Governor Mark Carney said on Thursday.

Carney said that despite an “incredibly tight” labor market, businesses had held off on investment since the 2016 referendum to leave the European Union.

He also warned at a meeting of the Marshall Forum group in Washington that the global economy appeared to be reliant on consumers, rather than trade and investment growth, due to increased trade tensions for more than a year.

“Normally when expansions are reliant on the consumer, you start watching the clock, in terms of how much longer it will last,” he said.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

READ  New York Auto Show: These 14 Jurassic cars haven’t been redesigned in ages





READ SOURCE

Leave a Reply