Britain's Brexit vote last year was one such moment. Most consumers and investors have so far shrugged off the vote though, suggesting the public believe Brexit will have little long-term economic impact. The economic consensus did forecast correctly the pound's fall on a trade-weighted index (around 13 percent decline), as did the Economists for Brexit analysis. The Economists for Brexit group of which I was a founding member was busy refuting anti-Brexit reports pre-referendum. What happens to the pound in the longer term of course depends on the economic fundamentals, but what is clear is that so far the doom-mongers have been wrong on the macroeconomic impact overall.
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Bank of England Deputy Governor Ben Broadbent said last week the economy was in a post-referendum, pre-Brexit "sweet spot" for exports. WTO rules would impose higher tariffs on goods and wouldn't cover services, the biggest part of the U.K. economy. The U.K. economy's sweet spot is about to be challenged. So far, the "sweet spot" has seen the economy prove unexpectedly strong. There's also a lack of clarity over whether a good deal -- or any deal -- can be reached.
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collected by :John Miller
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German Parliament: Brexit Will Cause Significant Economic Damage to UK
Bank of England Deputy Governor Ben Broadbent said last week the economy was in a post-referendum, pre-Brexit "sweet spot" for exports. WTO rules would impose higher tariffs on goods and wouldn't cover services, the biggest part of the U.K. economy. The U.K. economy's sweet spot is about to be challenged. So far, the "sweet spot" has seen the economy prove unexpectedly strong. There's also a lack of clarity over whether a good deal -- or any deal -- can be reached.
read more visit us Economic
collected by :John Miller