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Britain’s Brexit delay will mean for the British economy

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The Bank of England is set to provide its first forecasts of what Britain’s Brexit delay will mean for the British economy.

The central bank is due Thursday to keep its main interest rate on hold at 0.75 percent following the latest meeting of the Monetary Policy Committee.

The focus will be what Governor Mark Carney says about the Brexit extension granted by the other 27 members of the European Union.

Britain was due to leave the EU on March 29 but Parliament twice rejected Prime Minister Theresa May’s Brexit deal, pushing back the Brexit date to Oct. 31.

The central bank has consistently warned about the economic impact of Brexit uncertainty and of a deep recession if Britain were to leave the EU without a deal

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