Mark Carney, the Governor of the Bank of England and also Chairman of the Monetary Policy Committee attempts to calm people and trying to convince them that Britain’s financial system will be alright after last week’s events.
At any point of time, it is highly anticipated for him to mention that contingency plans by Threadneedle Street which will preserve the funds flowing which will manage to ease the concern from the business community.
Several people from the business sector have also declared a recent decline in investment and rising unemployment following the damage that Brexit has left. Consumers have also been affected as concerns grew and uncertainty remains rampant.
Despite criticism from left and right concerning a possible decline of GDP growth right when the world economy is at a “fragile juncture”. By next year, it is forecasted that the British economy will drop by 1% instead of a growth of 1.8%. Britain continues to face uncertainty regarding the financial market and its future trading relationship with the European Union. This uncertainty in turn causes damage to countless. businesses and investments As a result of the decline, the entire nation is divided and Carney hopes that by working together they will be able to rebuilt it.
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