Carney sees slower growth without Brexit deal

London

BRITAIN'S economy will grow more slowly in the short term if the country fails to secure a future trading deal with the European Union after Brexit, Bank of England Governor Mark Carney said on Sunday.

Asked in an interview with ITV television if Britain's economy would take a hit if there is no Brexit deal, Mr Carney said: "In the short term, without question, if we have materially less access (to the EU's single market) than we have now, this economy is going to need to reorient and during that period of time it will weigh on growth." Mr Carney also said British business investment should be booming now, given the strength of the world economy and other factors, but that it was just growing instead.