
The Bank of England warned last week that a disorderly no-deal Brexit would cut GDP by between 4.75 and 7.75 per cent by 2023, and raise unemployment to between 5.7 and 7.5 per cent. These scenarios – the Bank denies they are forecasts – have been widely criticised even by sympathisers with the Bank. Andrew Sentence, a former MPC member and Remain supporter, called them “bogus”.
Economic Indicators
The deficit yawn
UK government borrowing is at a 17-year low, but this doesn't much matter for bond yields.
Chris Dillow