IMF says sees "negligible" Brexit impact on US growth
[WASHINGTON] Britain's referendum on leaving the European Union has caused uncertainty and increased risks to the US economy, but thus far it looks likely to have a pretty "negligible" impact on US growth, the International Monetary Fund said on Tuesday.
The IMF said in its formal annual review of the US economy and policies that the Brexit vote has prompted a rise in the dollar that has been less than feared, up about 1 per cent in nominal effective terms, while stock markets have recovered losses incurred in the immediate aftermath of the vote.
Meanwhile, the safe-haven rush into US Treasuries has lowered yields, and home and business financing costs, considerably.
"The net effect on growth is pretty negligible," Nigel Chalk, the IMF's mission chief for the United States, told reporters on a conference call.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Israel strikes Gaza city of Rafah after evacuation order
Britain's King Charles III marks first anniversary of coronation
German deficit forecast at 1.75% in 2024, says stability council
SNP veteran John Swinney set to be Scotland’s next leader
Shell in talks to sell Malaysia fuel stations to Saudi Aramco: sources
Macron, von der Leyen press Xi on trade in Paris talks