CHAIRMAN: DR. KHALID BIN THANI AL THANI
EDITOR-IN-CHIEF: DR. KHALID BIN MUBARAK AL-SHAFI

Business / World Business

Bank of England warns pound would crash 25% in no-deal Brexit

Published: 28 Nov 2018 - 08:11 pm | Last Updated: 08 Nov 2021 - 11:08 am
Peninsula

AFP

London: The Bank of England on Wednesday warned a no-deal Brexit would trigger a financial crisis in Britain, causing the pound to plunge by 25 percent.
The central bank also said in a report that such a scenario could mean a gross domestic product shortfall of 8.0 percent in the first quarter of 2019.