'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
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