Britain is becoming a leading indicator of the costs to companies and households of unwinding globalization. The country’s exit from the European Union remains a looming shadow, but it already has made financing more expensive within the U.K., according to the Bank of England. Financial conditions in Britain are tighter than they would otherwise be by some measures and things would likely get worse if the U.K. pursued a sharp break with its European neighbors. At a time of trade wars and greater barriers to cross-border finance,...

Source: Wall Street Journal March 05, 2019 14:37 UTC