Seven days in the Square Mile

The pound fell to a two-week low after several opinion polls suggested an erosion of the Remain campaign’s lead in the run-up to the EU vote, despite further warnings from economists of the dangers of Brexit. The OECD forecast that the UK economy would suffer “a large negative shock” and that GDP could fall by more than 3% by 2020. It predicted the rest of the EU would be 1% weaker as a result. A survey of FTSE 350 companies found that more than a third had spent up to £1m preparing for the consequences of Brexit. In its latest financial stability report, the European Central Bank singled out populist political parties as a growing risk. Opec oil ministers gathered in Vienna for their half-yearly meeting amid hopes of a less…

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The Week United Kingdom (Digital) - 1 Issue, V. 1076

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