Carney Sees Brexit Consumer Slowdown Ahead After Strength
- IMF lifts forecasts for 2017 growth, still sees cooling
- Says U.K. policy makers can respond in either direction
Tourists walk past a souvenir stall on the steps of Westminster Bridge selling paraphernalia decorated with the British Union flag in London, U.K., on Thursday, Dec. 29, 2016. Demand for luxury brands in the U.K. is flourishing, boosted by increased tourism and spending linked to the weaker pound.
Photographer: Simon Dawson/BloombergThis article is for subscribers only.
Consumers, the backbone of U.K. economic resilience after the Brexit vote, face fresh headwinds in 2017 that are likely to curb growth, according to Mark Carney.
Bank of England policy makers will be monitoring developments closely as the impact of the weakening pound feeds through to prices, the governor said in London on Monday. Data on Tuesday will probably show inflation accelerated in December to the fastest since 2014.