More firms expect Brexit uncertainty to stretch into 2021: Bank of England

Global Economy

Reuters
05 March, 2020, 04:50 pm
Last modified: 05 March, 2020, 04:50 pm
Prime Minister Boris Johnson has said he will secure a trade deal with the European Union before a deadline of Dec. 31, a timetable that many trade experts say looks tight
FILE PHOTO: The Bank of England logo is seen on a lectern during the launch event for the new note design at the Turner Contemporary gallery in Margate, Britain, October 10, 2019. Leon Neal/Pool via REUTERS/File Photo

More than three-quarters of British firms that took part in a Bank of England survey expect uncertainty about Brexit to last until 2021 at least, the central bank said on Thursday.

"Businesses expect uncertainties around Brexit to take longer to be resolved than in the January survey," the BoE said as it published the Monthly Decision Maker Panel (DMP) survey of chief financial officers.

"In February, 76 percent of businesses expected uncertainty to persist until at least 2021. That proportion had risen from 59 percent in January, continuing a trend seen over recent months."

Prime Minister Boris Johnson has said he will secure a trade deal with the European Union before a deadline of Dec. 31, a timetable that many trade experts say looks tight.

The February DMP survey was conducted between Feb. 7 and Feb. 21 and was based on 2,891 responses.

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