The Bank of England’s top markets official said the UK economy is in the middle of a post-Brexit shock
|09/28/2016||Posted by BusinessMediaguide.Com under General World News||
Minouche Shafik, the Bank of England’s top markets official, said the UK is in the middle of an economic shock brought on by the vote to leave the European Union.
Shafik said “there is no doubt in my mind that the UK is experiencing a sizeable economic shock in the wake of the referendum,” in a speech at Bloomberg’s Most Influential conference in London.
Shafik said that the prospect of trade barriers with other EU countries once the UK triggers Article 50 and formally leaves the 28-nation bloc will further hurt growth.
“Any reduction in openness or need to reallocate resources will necessarily read more >>>