Bank of England may have double counted some Brexit costs

 
More Than Mortal
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This is the way the world ends. Not with a bang but a whimper.
Wow.

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The Bank of England may need to revise up its growth forecasts after double-counting some of the costs of economic uncertainty linked to the country's Brexit vote, policymaker Kristin Forbes said in an interview published on Thursday.

"We may be over-counting the effects," Forbes was quoted as saying by Bloomberg News. "I've worried a bit in our forecast that we control for many of the measures that simultaneously control for uncertainty, and then we put in uncertainty effects, so we're putting them in twice," she added.

Last week the BoE said it expected the economy to slow less rapidly in the three months to September than it had previously estimated, but most of its policymakers were still likely to back a rate cut later this year. Earlier on Thursday, Forbes said she did not see a case for a further rate cut.

(Reporting by David Milliken; editing by William Schomberg)


 
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Risay117 | Heroic Unstoppable!
 
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Honestly Brexit has not happened and the whole thing has been the biggest lie in UK history. Kind of funny that they voted to leave yet they have been delaying any talk about it.

It's like everyone is living as if Britain has left but in actuality it hasn't.

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