28-11-2018, 18:17
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#3868
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Still alive and fighting
Join Date: Jun 2007
Location: In the land of beyond and beyond.
Services: XL BB, 3 360 boxes , XL TV.
Posts: 56,657
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Re: Brexit
The Bank of England has now published its Brexit impact assessment.
https://www.bankofengland.co.uk/-/me...9D94CAB8735DFB
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The Press Association has snapped these headlines.
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The Bank of England has warned the pound would crash, inflation will soar and interest rates would have to rise in the event of a no deal disorderly Brexit.
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In the event of a disorderly no deal, no transition Brexit, Britain’s GDP could fall by 8% from its level in the first quarter of 2019, according to analysis of a worst case scenario by the Bank.
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The unemployment rate would rise 7.5% and inflation would surge 6.5%. House prices are forecast to decline 30%, while commercial property prices are set to fall 48%. The pound would fall by 25% to less than parity against both the US dollar and the euro.
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“The only lesson you can learn from history is that it repeats itself”
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