1 Aug 2019

1-in-3 chance of recession after Brexit, Bank of England warns

Economics Correspondent

Using the occasion of its inflation report, the Bank of England was today candid about the consequences of a no-deal Brexit. But it said even if the UK manages to secure a deal with the EU, there’s still a one in three chance the country will fall into recession.

Meanwhile, the chancellor Sajid Javid announced another £2.1 billion to guard against such a situation.