Economic trends: policymakers start to grasp gloomier outlook

The UK economic outlook has darkened with risks shifting increasingly to the downside. Importantly, Brexit uncertainty plays an important part in this, but is by no means the only factor, says Chris Williamson, chief business economist at IHS Markit

Late last year we noted how the Bank of England was playing a ‘risky game’, hiking interest rate for the second time since the global financial crisis last August despite warning lights flashing red on the underlying health of the economy.

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