Brexit

“We [the Bank] laid out in advance of Brexit that this will be a negative supply shock for a period of time and the consequence of that will be a weaker pound, higher inflation and it will end weaker growth,” he told The Daily Telegraph. “And the central bank will need to lean against that now that’s exactly what’s happened. It’s happened in coincidence with other factors, but it is a unique aspect of the economic adjustment that’s going on here.”