Wednesday, 13 November, 2019

Bank of England cuts United Kingdom growth forecast

Kate Hoey: Boris Johnson has already made progress on the backstop Heightened Brexit rhetoric "isn't coming from us", Taoiseach says
Patty Aguilar | 04 August, 2019, 12:28

He observed: "I think we should be afraid of a no-deal Brexit - a no-deal Brexit would have very serious impacts on the economy North and South and in Britain".

Northern Ireland, a region of the United Kingdom that has a land border with the Republic of Ireland, is singled out as being particularly at risk, with "small businesses [facing] distress and potential law and order challenges" in the first month after leaving without a deal.

In its projections that are conditioned on a smooth Brexit scenario, the bank said economic growth in the second quarter is set to be flat, down from 0.5% in the first three months.

Bank of England governor Mark Carney warned on Thursday of the risks of leaving the European Union with no deal as the institution lowered its economic growth forecasts for 2019 and 2020.

The document says: "Northern Ireland - [cross] border trade virtually stops, other trade slows".

Looking at the "First Fortnight", and the document predicts that there will be potential consumer panic and food shortages in the United Kingdom, while the county's economy will continue to be volatile.

Unlike the BoE, the US Federal Reserve opted to reduce interest rates for the first time since the global financial crisis over a decade ago.

The document was prepared in the last weeks of Theresa May's premiership, Sky reported.

'Many killed' in El Paso mall shooting
It was the eighth worst mass shooting in modern USA history, after the 1984 shooting in San Ysidro that killed 21 people. Eleven other victims were being treated at Del Sol Medical Center, according to hospital spokesman Victor Guerrero.

Mainz' Jean-Philippe Gbamin undergoing medical at Everton
Gbamin told evertontv: "It's a big moment with a lot of emotion and now it's on me to prove on the pitch why they bought me". Gbamin moved to Mainz in 2016 from French side Lens and made 86 Bundesliga appearances for the club, scoring three times.

Entenmann's Little Bites Soft Baked Cookies Recall For Blue Plastic
Food and Drug Administration said Bimbo Bakeries USA, Inc. issued the voluntary recall for 37 states, which include MA . Recalled cookies contain a single UPC Code (found in the lower right hand corner on the back of the box): 7203002378.

Dominic Cummings told ministers and officials that the Prime Minister will honour his October 31 pledge even if Jeremy Corbyn and pro-Remain Conservatives succeed in forcing a general election.

Chancellor Sajid Javid announced a further 2.1 billion would be made available for no-deal Brexit preparations.

"This government could have ruled out no deal, and spent these billions on our schools, hospitals, and people", said John McDonnell, the party's finance chief.

Sinn Fein leader Mary Lou McDonald described the implications of Brexit for Northern Ireland as "enormous" and has repeatedly called for a border poll.

On the same day, the Bank slashed its growth forecast to 1.3% for both this year and next, down from the 1.5% and the 1.6% previously predicted.

It read: "In the event of a no-deal Brexit, the sterling exchange rate would probably fall, CPI inflation rise and GDP growth slow".

Mr Cummings told ministers and officials that the Prime Minister will honour his promise to the people of Britain by leaving the European Union by October 31, according to The Daily Telegraph.

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