Brexit: the economic consequences | KPMG | BE

Brexit: the economic consequences

Brexit: the economic consequences

As the UK scrambles to respond to the electorate’s unexpected Brexit decision, KPMG lowers its growth forecast for next year and says the Bank of England may support the economy with a further loosening of monetary policy.

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Woman on a bridge over the Thames looking out at the City of London

Yael Selfin, Head of Macroeconomics at KPMG in the UK, explores of the short-term economic impact of the EU Referendum vote in the UK, across Europe, and beyond.

Highlights:

  • KPMG lowers UK 2017 GDP forecast to 0.5% vs 2% projection before referendum
  • Major infrastructure decisions could be delayed, pressuring investment and growth
  • Bank of England could further loosen monetary policy with rate cuts and QE
  • Eurozone growth expected to slow to 1.5% in 2016 and slightly lower in 2017

© 2017 KPMG LLP, a UK limited liability partnership, and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative, a Swiss entity. All rights reserved.

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