UK yet to see any any benefits from Brexit, says Bank of England chief economist

The Bank of England. Bank of England Chief Economist Huw Pill suggested that the UK is yet to see any positive economic benefits from exiting the European Union. Photograph: Neil Hall/EPABank of England Chief Economist Huw Pill suggested that the UK is yet to see any positive economic benefits from exiting the European Union.

Mr Pill said that it “remains too early to judge the full economic impact from Brexit but warned that there had not been any “offsetting effects from a blow to trade and the labour force. The bank delivered a bleak assessment of the UK economy’s speed limit in its latest forecasts on Thursday. It downgraded its outlook on potential growth — the limit at which activity generates excess inflation. That reflected a drop in the size of the workforce and trade friction with the EU.

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