Will Brexit Slow U.K. Growth?
Britain’s biggest business lobby cut its growth forecasts for the U.K. economy and said the referendum on European Union membership has put a “dark cloud of uncertainty” over the outlook. The warning on Monday from the Confederation of British Industry follows an intense week of back and forth between both sides of the debate before the June 23 vote, with International Monetary Fund Managing Director Christine Lagarde and Bank of England Governor Mark Carney saying that leaving the EU could trigger a recession. Those interventions prompted accusations of scaremongering from Brexit campaigners including former Chancellor of the Exchequer Norman Lamont. The CBI's Head of Economic Analysis Anna Leach and State Street Global Markets Global Head of Macro Strategy Michael Metcalfe discuss Brexit & business with Bloomberg's Francine Lacqua on "The Pulse."