Mark Carney

Financial markets seem lost in the fog of Brexit | Nils Pratley | Business – Business Article

Mark Carney could just as easily have shrugged his shoulders and declared that, like the rest of us, he hasn’t a clue how Brexit will work out. Instead, the Bank of England governor, obliged to riff on a theme when unveiling new economic forecasts, opted for “the fog of Brexit”, which amounted to much the same thing. Sadly, he couldn’t say when visibility will improve. Financial markets, too, seem baffled. The headline news that the Bank was making deep cuts…

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Bank of England sets interest rates as Brexit looms and house prices slide – business live | Business – Business Article

“With Brexit negotiations still in deadlock, it is unsurprising that the property market continues to stagnate, with just 0.8% annual house price growth, and a monthly fall of -2.9%. Little progress was made in January, and Reapit’s data shows that a lack of clarity has caused buyers and sellers to abstain from engaging the market. Exchanges are now down by 16% across Greater London, with 27% fewer new listings in December 2018 compared to the same period in 2017. “However,…

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Philip Hammond urges business leaders to accept Brexit result | Business – Business Article

Philip Hammond has told business leaders they need to accept the result of Britain’s EU referendum and warned that a failure to implement it would damage the country’s political stability. The chancellor told increasingly restless business leaders that he was working for a deal that safeguarded the economy, and said he understood their frustration but companies had to accept that changes were coming – such as an end to the free movement of people and business models built on a…

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