Jul
05
Brexit Erodes U.K. Economic Pillars as Property Investors Flee
By-
Three property funds worth $11.9 billion frozen on withdraws
-
Carney warns of economic slowdown as he moves to bolster banks
Pillars of the U.K. economy are starting to shudder as the cost of Brexit hits home.
Three asset managers froze withdrawals from real-estate funds following a flurry of selling and the pound plunged to a 31-year low less than two weeks since the nation backed quitting the European Union. Rushing to fill the political vacuum, Bank of England Governor Mark Carney signaled easier monetary policy and urged prudence on households…
Brexit Erodes U.K. Economic Pillars as Property Investors Flee
