EU referendum: Bank of England issues stark Brexit warning as Alistair Darling forecasts 'dark clouds'

The Bank of England has issued its starkest warning yet over the consequences of Brexit for the British economy, stating that the country would be likely to face a long period of uncertainty if it left the EU, that would dampen demand and impact on UK assets.

Minutes from the latest meeting of the Bank’s Monetary Policy Committee also state that the looming referendum is already having a dampening effect on the economy, noting that many major capital spending decisions and property transactions were being delayed, pending the outcome of the vote.

Its warning, which was roundly criticised by the Leave campaign, came as the former Labour Chancellor Alistair Darling, who presided over the UK’s response to the 2008 global financial crisis, said that “dark clouds” were again “gathering on our horizon”...



Image Credits: Getty