Like everyone else, the BoE is Brexit-dependent

The Bank of England Super Thursday was dominated by Brexit. It might have been a coincidence that while the top BoE officials were meeting in London, British PM Theresa May was in Brussels having a sitdown with European President Jean-Claude Juncker in the latest-but-not-last attempt to re-negotiate a deal for the much-discussed, less-resolved Irish backstop, but the coincidence was not meaningless.

These days, with less than two months until the deadline set for the UK to leave, Brexit dominates every bit of action in the political and financial sphere both in the United Kingdom and the European Union. Both central banks have felt it in their latest meeting. Like the ECB, the Bank of England is Brexit-dependent and it showed it both on its economic projections and on its governor speech. Our Chief Analysts Mario Blascak and Yohay Elam discuss it on the following conversation.

 

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