Bank of England economist: Brexit predictions were wrong

Bank of England economist: Brexit predictions were wrong

Friday 1438/4/8 – 2017/01/06

LONDON, Rabi’II 08, 1438, January 06, 2017, SPA — The Bank of England’s chief economist says forecasters got it wrong when they predicted a sharp economic downturn if Britain voted to leave the European Union AP reported.
Andy Haldane says the country’s strong economic performance since the June referendum has been a surprise, and the economic forecasting profession “is to some degree in crisis.”
Before the referendum, many forecasters said a vote to leave the EU could cause the pound to fall by as much as 20 percent and push the economy back into recession.
The pound did plummet, but other economic indicators remain strong.
–SPA
15:25 LOCAL TIME 12:25 GMT