For those who hoped that Brexit would mean turning back the clock, yesterday was a good day. As long as they wanted to turn the clock back to the economic crash in 1930s. The Bank of England did not hold back in its assessment of what Britain leaving the EU without any kind of deal would mean: the economy shrinking by 8 per cent in a year, house prices tumbling by 30 per cent, interest rates soaring to 5.5 per cent. Mark Carney, the Bank of England governor, did his best to make this all sound like a routine bit of work and not at all designed to save Theresa May’s Brexit deal: “Parliament has demanded this analysis. We have to do it and we’ve…

Source: The Times November 29, 2018 08:48 UTC