Sky's Adam Parsons casts his eyes over the Bank of England's Inflation Report and sees predictions shrouded in Brexit-related fog.
Thursday 2 May 2019 12:32, UKMark Carney is due to step down as Bank governor early next year when Brexit should have been completedRead through the Bank of England's Inflation Report and there is one theme that jumps out at you: uncertainty.
It's there in its analysis of the effect of stockpiling, which may - or may not - be pushing up economic growth, only to deflate it in the future.There's even a section in the report about"demand and the impact of Brexit-related uncertainties", which outlines the nervousness that has spread across much of British business. But even here, the analysis does not come to certain conclusions. There is, confusingly, considerable uncertainty about the impact of the uncertainty.
At the same time, the average employee is working longer hours and a significant number are working for more than 45 hours a week. So you can read this report in plenty of ways - either as proof that economic growth is resilient, even when it has to deal with the questions laid down by Brexit. You could read it that the economy is facing a shock due to lack of investment.
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