‘Fog of Brexit increasing recession chance’: Bank of England

“The fog of Brexit is increasing the chances of recession”, the Bank of England governor Mark Carney has warned, as he slashed the UK’s growth forecast to its weakest for ten years.

The Bank said that endless uncertainty over the Brexit negotiations meant companies were hunkering down and cutting investment.

Although it did hold out the hope of a recovery later this year if an orderly deal is negotiated by the March deadline.