Theresa May has been credited with a deft handling of the economy in the first nine months since the Brexit vote. As Britain begins the delicate process of extracting itself from the European Union, headwinds are expected for the economy even though the forecast financial storm has so far failed to materialise. Prime Minister Theresa May has been credited with a deft handling of the economy in the first nine months since the Brexit vote, aided by the Bank of England’s injections of liquidity into the banking system and unflagging consumer confidence. The economy grew by a wholly respectable 1.8% in 2016 and could expand by 2.0% this year, according to the latest forecasts. Consumers are also beginning to feel the effect of a sharp rise in prices due to more expensive imports—a consequence of the devaluation of the pound on currency markets caused by the Brexit vote.

Source: Mint March 27, 2017 10:07 UTC