A no-deal Brexit would see the pound and GDP nosedive and inflation, unemployment and interest rates skyrocket, the Bank of England has warned, in the most apocalyptic of a series of forecasts it has released ahead of the meaningful vote on the withdrawal agreement.
The Bank’s five-year forecasts cover a range of Brexit scenarios, of which those for a no-deal are, unsurprisingly, the bleakest. Mark Carney, its governor, said the result would be a deeper recession than that which followed the financial crash in 2008.
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