The six-month delay of Britain's exit from the European Union avoids the &q...
WASHINGTON - The six-month delay of Britain’s exit from the European Union avoids the “terrible outcome” of a “no-deal” Brexit that would further pressure a slowing global economy but does nothing to lift uncertainty over the final outcome, the head of the International Monetary Fund said on Thursday.
Earlier on Thursday, EU leaders gave Britain another six months to sort out its departure from the 28-member bloc, but the reprieve offered no clarity on when, how, or even if Brexit will happen. Despite an “incredibly tight” labor market, businesses have held off on investment since the referendum, he said.
Bank of Japan Governor Haruhiko Kuroda said he remained hopeful Japan’s export-reliant economy will soon emerge from a soft patch but added that ongoing U.S.-China trade talks loomed over the global outlook. The group said it stood ready to cooperate in the effort to build “a modern, open, rules-based, non-discriminatory and equitable multilateral trading system.”
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