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04.07.2016 08:19 ECB Villeroy: Britain will face rising inflation and a drop in GDP due to Brexit

04.07.2016 08:19

ECB Villeroy: Britain will face rising inflation and a drop in GDP due to Brexit

"Britain offers two major problems, namely an increase in inflation and economic contraction, after leaving the UE", - said a member of the Board of Governors of the European Central Bank, François Villeroy de Galo.

"In the short term, two opposite problems pose a challenge to the British economic and monetary policy: there is the problem of inflation, which is exacerbated by the recent depreciation of the pound by 11 percent against the US dollar then arises the recession problem.. . the effect of uncertainty on investment in such a situation makes it very difficult to properly adjust monetary and economic policy ", - said Villeroy.



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