IMF's Lagarde: UK economy is losing out as a result of Brexit decision
Below are some of comments on the UK economy by the IMF chief Christine Lagarde's.
• Brexit vote already affecting the UK economy
• UK growth has slowed notably since the start of year
• Businesses delaying investment until they have greater clarity about post-Brexit trade rules
• The more uncertainty there is about Brexit, the greater the risk to UK's growth
• Continued reduction of UK budget deficit is needed to create room to respond to future shocks
• UK has underinvested in infrastructure and innovation, falls short in human capital
• Faster BoE rate tightening may be needed if fall in unemployment leads to too rapid wage growth
• Brexit deal that minimizes trade disruption would best support stability and growth
• Encourages UK and EU to reach agreement soon on Brexit transitional arrangements
• Cites investment delays and inflationary pressures the reasons for that
• More Brexit certainty would be an upside risk
• UK growth is a bit of a disappointment compared to other countries
• Numbers in UK economy today are proving the point that we made before Brexit vote, "we are not too gloomy"