Bank of England Governor anticipated: Britain to enter an era of recession

Marc Carney, the governor of Bank of England anticipated a recession in country’s economy. As he stated, the second quarter of the year shall be a tough season for Britain’s economy and in case the country’s leaving the EU does not reach an agreement, we shall expect the issues to be more intense.

In 2019 second quarter, Britain experienced a negative financial growth rate which is the first time after the great recession of 2008. This recession to a great deal is a result of British Companies’ activity reduction due to reaching the Brexit Deadline. Before, the Bank of England anticipated in iys report of Britain’s Economy that the financial growth of the third quarter to be positive again and achieve 0.3%.

According to Marc Carney, the most significant consequence of uncertainty in England’s leaving EU, is business activists’ losing interest in initiating businesses and investments in Britain. As most of them are waiting for the conditions to be cleared.

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