BoE's Carney: Upgraded growth forecast doesn't mean Brexit has no consequences

LONDON: Bank of England Governor Mark Carney said on Thursday that the central bank's new, upgraded forecasts for British economic growth do not mean that last year's Brexit vote will have no consequences.

The BoE said it now expected economic growth of 2.0 percent this year, higher than economists had predicted and up from its previous forecast of 1.4 percent.

"This stronger projection doesn't mean the referendum is without consequence," Carney said at a news conference after the BoE left interest rates on hold.

"Uncertainty over future arrangements is weighing on business investment, which has been flat since the end of 2015."