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    Carney set to slash UK growth the zero.

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    papa_umau
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    Carney set to slash UK growth the zero.

    Post by papa_umau on Wed 03 Aug 2016, 10:51 am

    The Bank of England will this week downgrade its growth forecasts following the vote to leave the EU and explain what action it will take in response.

    Governor Mark Carney said before the referendum that a Leave vote could result in a “technical recession” — two quarters in a row of the economy shrinking — and Thursday’s announcements will reveal whether or not policymakers think this is the most likely outcome. Growth forecasts are expected to be cut close to, and perhaps below, zero.

    Get the report from the FT Business and Economy pages HERE




    Any way you look at it, this is recession in all but name.





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    zathrus
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    Re: Carney set to slash UK growth the zero.

    Post by zathrus on Thu 04 Aug 2016, 11:15 am

    I found the headlines about this rather amusing.

    In the paper today it was stated that Carney is going to "slash" interest rates Twisted Evil

    The thing is how can you "slash" something that is already as low as 0.5 percent ?
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    Nuthin fancy
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    Re: Carney set to slash UK growth the zero.

    Post by Nuthin fancy on Thu 04 Aug 2016, 2:40 pm

    Hi All,

    Good point Zath.

    Ever since I retired I have had crap interest rates, so it makes little damn difference to me now !!. Carney was one of the doom merchants regarding BREXIT.

    I fully expect things to get tough, but its also easy to talk your way into trouble. We need to get article 50 going ASAP. We have loads of countries happy to do trade deals.

    I am quite happy to put up with a bit of rough water, as once we are free we will be masters of our own destiny.

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    papa_umau
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    Re: Carney set to slash UK growth the zero.

    Post by papa_umau on Sun 07 Aug 2016, 11:29 am

    Even as a remainer I can see that while brexit is bound to have some bad effects on Britain's economy, it still does open us up to world markets that we have not even tried yet because of our links with the EU.

    I really wish we were actually out so that we can get working on what needs to be done to make up for losing many of our present European markets.


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