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Brexit LIVE: 'Spectacularly wrong' Remoaner fear-mongering dismantled with 'hard facts'

NewsBrexit LIVE: 'Spectacularly wrong' Remoaner fear-mongering dismantled with 'hard facts'

US economist and former member of the Bank of England’s rate setting Monetary Policy Committee, Adam Posen, has reportedly claimed Brexit is “80 percent of the reason” for the UK’s inflation problem. But Economist Julian Jessop has savaged this analysis for not relying on “predictions” rather than “hard facts”. Writing in the Telegraph, he said: “Clearly this makes no sense at all if applied to the current rates of inflation. But Posen was actually referring to International Monetary Fund (IMF) forecasts for 2023, when the UK is expected to suffer the highest inflation in the G7. This is just speculation.” Mr Jessop pointed out that the IMF “has been spectacularly wrong on the UK economy for many years” and that the UK consumer price inflation has not deviated far from the average in Europe so far. “Any Brexit impact on inflation has been dwarfed by other factors – and this is likely to continue,” he added.


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