Economics

Carney Says BOE Ready for the Worst in Brexit Recession Warning

Central bank says economy could shrink by 8 percent in a year
Disorderly Brexit would also see house prices fall sharply

Bank of England Governor Mark Carney says the country isn’t ready for a "cliff-edge" Brexit.Source: Bloomberg)

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By Andrew Atkinson and Anurag Kotoky

November 28, 2018 at 11:40 AM EST

Updated on

November 28, 2018 at 12:58 PM EST

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Mark Carney said the Bank of England is prepared for the worst possible Brexit and that the U.K. faces the steepest economic slump since at least World War II if it crashes out of the European Union without a deal.

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