Bank of England warns no-deal could see UK sink into recession – BBC News

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A no deal Brexit could send the pound plunging and trigger a worse recession than the financial crisis, the Bank of England has warned.
It said the UK economy could shrink by 8% in the immediate aftermath if there was no transition period, while house prices could fall by almost a third.
The Bank of England also warned the pound could fall by a quarter.
The Bank’s analysis comes after the Treasury said the UK would be worse off under any form of Brexit.
This Bank’s scenario is not what it expects to happen, but represents a worst-case scenario, based on a so called “disorderly Brexit”.
The scenario looks at the five-year period after the UK leaves the EU.
But by the end of 2023, the economy is expected to resume growing.

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“These are scenarios not forecasts. They illustrate what could happen not necessarily what is most likely to happen.

“Taken together the scenarios highlight that the impact of Brexit will depend on the direction, magnitude and speed of the effect of reduced openness of the UK economy,” Bank of England governor Mark Carney said.

Comments

Kev Morley says:

Another conservative government will put us in recession Brexit or not

Dan Thompson says:

Britons Buggerry Club lying again, hey knobheads just print some more money its nothing new.

jimmy plank says:

MC is a disgrace never got anything right yet no wonder Canada got rid

Le Ruscino says:

Fool me once, shame on you! Fool me twice, shame on me! Project Fear revisited……..

Brexit Monger says:

Let's ship this Canadian joker back to Canada. Who the hell appointed a foreigner to head one of our most important national institutions?

Albert Jones says:

Carnage is generally wrong.

vjab1108 says:

The BBC are an OUT DATED LEFT WING PROPAGANDA MACHINE. LET the PUBLIC have a REFERENDUM on the TV LICENCE and if the BBC think they are so Good then they will make MORE MONEY by going SUBSCRIPTION.

Made in England says:

Anyone who doesn't already know the truth about where money actually comes from, start your education by watching '97% Owned' and 'The money masters'.

Made in England says:

Central banks are the reason the world is in such a shit state. Their monopoly is the biggest con the world has ever seen. Fuck the banks and their phony national debt which they know fine well can't be payed off otherwise the whole system collapses. The day I believe a banker is the day I put a bullet in my temple.

Spennie says:

Ah piss off. Always with the negative waves Carnage, always with the negative waves. Why don't you knock it off with them negative waves? Why don't you dig how beautiful it is out here? Why don't you say something righteous and hopeful for a change? Definitely an antisocial type. Woof, woof, woof!

THOMAS Kristensen says:

May the ugly puppet of the bankers. NO DEAL.

Colour Black says:

FAKE NEWS!!!!!!!! UK Government ARE THE ENEMY OF THE PEOPLE!!!!!!!!!!! BLOOD IS ON THEIR HANDS !!!!!!!!!!

Haha Bobblehead says:

The recession is coming regardless of the Brexit outcome.

Soviet Union Jack says:

Carney's crystal ball must be a Palantir …it only sees from the 'dark side'. I wasn't sure until now that he was sleeping with the BBC though.

Mrmikegames101 says:

Fuck these pricks

Romantic Dance says:

The bank of Engleand is owned by Rotten-Child who dragged England into the swamp and through corruption crabbed the whole financial system. Who also dictates the value of gold, silver, diamonds, oil and money. They stated that who ever controls the money rules the country no matter who writes the laws or whatever religion. They are above the law. The City of London is sovereign Rotten-Child property.
They want a Europe like America without borders. They flood Europe with endless trails of refugees and immigrants to destroy any kind of identity, national proud and our whole culture. But Europe is not like the hamburger society of US.
We have very old cultures, we have the right to defend our way of living. You can't go on with importing the whole third world.
Britain had decided to leave but Theresa made any effort, any dirty game to ignore that referendum and backslide it.
The EU as dictator now wants to keep control over the borders of Britain. They will leave no stone unturned to reverse the decisions made by voting. They have total sh*t about any opinion not in line with the elite. Divide and conquer, unity is just for the top, diversity is forced by millions of immigrants and political correctness as censorship of free speech.
Ever more laws are signed to snare our mouth and control everything we do and think or own.
The treaty of Lisbon was singed to undermine our very existence and carry out the old Kallerghi Coudenhove plan.
They want to get rid of the rightful European population. Away with us who build up hundreds of years of culture.
It's all part of the plans outlined in the Builderberg meetings of which we are not allowed to have any say or insight.

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