Pursuits
BOE Sees No Sharp Slowing Yet Even as Brexit Boosts Uncertainty
- Most firms don’t expect to alter short-term investment, hiring
- Unemployment fell to 11-year low of 4.9% in month before vote
BOE Inflation Can Only Move GBP So Far, Says Halpenny
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The Bank of England has yet to see evidence of a sharp economic slowing, even after U.K. businesses said the vote to leave the European Union had caught them by surprise.
While uncertainty rose “markedly” after the June 23 referendum, most firms did not expect to alter their investment or hiring plans in the near term, according to the BOE’s Agents’ summary of business conditions, based on information from a network of representatives across the U.K.