Britain’s economy is “not yet prepared” for a disorderly no-deal departure from the European Union next month, Bank of England governor Mark Carney warned on Thursday.
“Although many companies are stepping up their contingency planning, the economy as a whole is still not yet prepared for a no-deal no-transition exit,” Carney told reporters after the bank slashed its economic growth forecasts.
As British Prime Minister Theresa May attempts to rescue her withdrawal agreement, Carney warned that the “fog of Brexit” has sparked volatility across financial markets, the economy, and for businesses.
