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Carney Sees U.K. Economy at Brexit's Mercy as Forecasts Cut

  • Governor says EU negotiations most important factor to outlook
  • Uncertainty set to weigh on decisions of households and firms
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BOE's Carney Says Pound Drop Has Squeezed Incomes

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Mark Carney said Brexit is casting the biggest shadow over the U.K.’s economic outlook, as his confidence in an orderly departure from the European Union starts to fade.

The Bank of England governor’s comments follow slow progress in the initial round of exit talks after Prime Minister Theresa May lost her parliamentary majority in June. Carney said that there’s only so much monetary policy can do as the central bank cut its forecasts for economic growth and wages.