Michael Saunders (ex chief economist at Citibank) will join the rate-setting MPC of the Bank of England in August

The UK's Telegraph report on his comments on what would happen in the event of Brexit, saying that Bank Rate would soar to 3.5% by the end of 2017

  • Because GBP would collapse and lead to a jump in inflation
  • This is from the paper overnight, so if there were any shock headlines they should have been and gone, just an ICYMI

Link is here for more

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Plague, pestilence ... etc. etc. There really are a lot of doom and gloom scenarios surrounding Brexit.