BNY Mellon: UK Economy Set For Post-Brexit Rebound

UK economic growth could hit 2-2.5% once Brexit uncertainty clears, says BNY Mellon's chief economist Shamik Dhar, but rate rises from the Bank of England risk that rebound

David Brenchley 16 April, 2019 | 10:26AM

Mark Carney, Bank of England, Brexit, interest rates, GDP, UK economy

The UK economy has “a lot of potential” and should bounce back strongly once uncertainty clears regardless of whether it leaves the European Union with a deal or not, according to BNY Mellon’s Shamik Dhar.

The risk for the UK economy, however, is that the Bank of England raises interest rates as soon as it can and derails a possible economic recovery, Dhar cautions. That's a concern expressed recently by Pictet’s multi-asset team, too.

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David Brenchley

David Brenchley  is a Reporter for Morningstar.co.uk

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