'We got it WRONG on Brexit': Bank of England admits it was too pessimistic amid signs economy has entered a 'sweet spot'
The Bank of England has admitted it was too pessimistic about the impact of the referendum vote amid signs the British economy has entered a Brexit 'sweet spot'.
The central bank cut interest rates to a low of 0.25 per cent in August and warned the UK 'is likely to see little growth' in the second half of 2016 following the Leave vote.
But in a dramatic climbdown yesterday, deputy governor Ben Broadbent said there was 'little doubt' the economy has performed 'somewhat more strongly' than predicted just two months ago.
Broadbent, a key lieutenant of governor Mark Carney, said the brighter... read more
- 12:34 Danny Boyle and Banksy's 'Alternativity' to be on BBC Two
- 12:34 Viewers angered as Katie Price makes dig about Holly Willoughby’s...
- 12:33 Over 1,000 turtles killed every year by plastic waste in the oceans
- 12:32 Jeff Horn keen to show victory over Manny Pacquiao was no fluke as...
- 12:32 More time to share views on planned Spalding school
- 12:32 Oven fire in Holbeach St Marks
- 12:31 First picture of murdered Paul Millea as devastated family pay tribute
- 12:31 Big-hearted Sheffield community rallies to support food bank hit by...
- 12:31 Police dog Quinn earns her licence to patrol the streets
- 12:31 Don’t get tripped up this winter
- 12:31 Second CCTV patrol car to be deployed to schools to stop dangerous...
- 12:31 Child rapist from Leeds sent child Facebook messages and made him...
- 12:30 Animal Magic: Is your festive pet pic cuter than this?
- 12:30 What a mucky pup! Hilarious moment golden retriever dives in the...
- 12:29 Air ambulance alerted to motorway smash in South Yorkshire
- 12:29 Man exposed himself to teenage girl
- 12:28 Animal Magic: Is your festive pet pic cuter than this?
- 12:28 Katie Price tells shocked Holly Willoughby she’s losing too...
- 12:28 Festive changes to Lancaster City Council services and facilities
- 12:28 High blood pressure warning: THIS causes your levels to SPIKE...
- 12:28 'Suspicious' man invites girl, 12, into bushes in Bransholme
- 12:28 It’s not all about me, insists under-pressure Middlesbrough boss...
- 12:27 Animal Magic: Is your festive pet pic cuter than this?
- 12:27 Church packed for hometown festive concert
- 12:26 Copies of Meghan Markle’s engagement ring banned by jeweller who...
- 12:25 EastEnders star Scott Maslen praises boss John Yorke and says the...
- 12:24 Funeral of Dawson Willcock announced
- 12:24 Animal Magic: Is your festive pet pic cuter than this?
- 12:23 World War 3: North Korea must increase ‘quantity and quality’ of...
- 12:23 Full moons can increase likelihood of fatal motor bike crashes