BOE's Ramsden Says Brexit Has Put U.K. in `Unusual' Slowdown
- Policy maker says domestic inflation pressures remain low
- Voted against BOE move to increase interest rates this month
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Brexit will lead to a long period of sluggish growth in the U.K., putting the economy in an “unusual” slowdown for years, according to Bank of England policy maker Dave Ramsden.
In his first public speech since becoming deputy governor in September, Ramsden welcomed the economy’s resilience after the 2016 vote to leave the European Union but said the longer Brexit uncertainty persists, the more likely demand and investment growth will weaken.