Mark Carney 'looks almost an idiot for his Brexit warnings', says leading finance research director

Mark Carney 'looks almost an idiot for what he said pre-Brexit', says leading finance research director

Brexit has had little effect on the economy so far, new ONS figures suggest (Getty)

Thursday, September 22, 2016

Governor of the Bank of England Mark Carney "looks almost an idiot" for his pre-Brexit predictions, according to a leading research director.

The Office for National Statistics (ONS) has revealed there has been little effect on the economy so far following the Brexit result, a far cry from some of the stark forecasts made in the immediate aftermath of the referendum.

However the ONS did warn that service sector figures are yet to be released, and this sector accounts for more than three-quarters of the economy.

Mark Dampier, research director at investment company Hargreaves Lansdown, told Julia Hartley-Brewer the latest figures are not surprising. 

"Forecasts anyway are notoriously awful, they hit the headlines and fill the pages, but to be honest with you most of them are wrong," Dampier said.

"Most people thought interest rates would go up over the last five years, Mark Carney even said it but he's been proved completely wrong, in fact the man looks almost an idiot for what he said pre-Brexit, and now he's lowered interest rates.

"We spend way too much time reading and talking about this rather than getting on with life."

Listen to the full interview to find out more