Could Brexit Spark a Recession?
The Bank of England cut its growth forecasts and issued its strongest warning yet that a vote to leave the European Union would hurt the economy, possibly causing a recession. Referring to the June 23 referendum as the “elephant in the room,” Governor Mark Carney said that the uncertainty over the U.K.’s outlook has risen to the highest since the euro area’s debt crisis. Officials unanimously agreed to maintain their benchmark rate at a record-low 0.5 percent on Thursday, saying inflation remains subdued.
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Deutsche Bank Says Economy Not Top Issue for Voters
21:26 - Stefan Schneider, chief German economist at Deutsche Bank, discusses the outcome of the German election, his outlook for the economy and how much risk he sees in the Brexit negotiation for German industry. He speaks on "Bloomberg Daybreak: Europe." (Source: Bloomberg)