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.
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