Brexit Uncertainty Been Less of a Drag on Growth According to BoE’s Forbes

Political and economic uncertainty before and after Britain’s vote to leave the European Union has proved to be less of a drag on economic growth than might have been expected, Bank of England policymaker Kristin Forbes said on Wednesday.

Forbes – who voted against restarting government bond purchases in August – said central banks should not use uncertainty as an excuse to avoid making decisions or for the BoE to change its approach to setting policy.

But she said uncertainty was hard to measure, and may be currently having less of an effect on Britain’s economy.

Reuters

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Craig Erlam
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the BBC and The Telegraph, and he also appears regularly as a guest commentator on Bloomberg TV, CNBC, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.