Business as usual: Bank of England reports no Brexit slump – Katar Investments

News

Business as usual: Bank of England reports no Brexit slump

The FTSE 100 hit an 11-month high and the pound rose as Mark Carney, governor of the Bank of England, reported that businesses showed no indication that they were cutting investment or recruitment.

Britain’s businesses have taken the Brexit vote in their stride and there are no signs of a sharp economic slowdown, the Bank of England said yesterday.

In its first assessment of the impact of the European Union referendum on June 23, the Bank said that most companies were adopting a “business-as-usual” approach and were not cutting back on either investment or hiring.

The monthly economic health check said that there was “no clear evidence” of a slowdown in business activity or lending by banks to companies.