BoE’s Carney: No deal Brexit could cause real-income squeeze

Mark Carney, Governor of the  Bank of England, is now delivering his remarks before the Parliament’s Treasury Select Committee with key quotes found below.

• Likely that real income squeeze would return for UK households for a few years if no Brexit deal.
• No deal Brexit could lead to a material rise in prices in the shops due to weaker pound and potential tariffs.
• A ‘no-deal – no-transition’ is an extreme scenario and the policy would be tighter instead of looser in that case.