OECD predicts Brexit impact on UK growth will be less than expected

According to its November Economic Outlook, UK growth forecasts were increased from 1.8% to 2% this year, and from 1% to 1.2% in 2017. The OECD, along with the Bank of England, was one of the forecasters criticised for overstating the impact Brexit could have on the UK economy. Although the forecast assumes the UK will obtain the ‘most favoured nation' status under the World Trade Organisation when it leaves the EU in 2019, the uncertainty surrounding the negotiations provides a major downside risk, Bloomberg reported. The OECD said less investment and rising inflation, which w...