The UK economy could slump 8% into the worst recession since WWII after a no deal Brexit, Bank of England warns

pulse

November 28, 2018 7:44 PM

It would push the pound to its lowest level in history.

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Bank of England has released an apocalyptic no deal Brexit scenario.
Under a “disorderly” Brexit scenario, the UK economy could shrink 8% in a single year, its worst recession since at least the Second World War.
The pound could also fall 25% to the lowest level against the dollar in history.
Unemployment and inflation would also surge, with unemployment hitting 7.5%, almost double its current rate.

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