Brexit and former Prime Minister Liz Truss made the UK a less-competitive, slower-growing economy that faces a greater risk of inflation, Bank of England policymaker Catherine Mann said.

Bank of England policymaker Catherine Mann said Brexit and former Prime Minister Liz Truss made the UK a less-competitive, slower-growing economy that faces a greater risk of inflation.

Mann stated that the UK’s vote to leave the European Union in 2016 was one step in a long “erosion” of sterling as a global currency.

Mann said the UK’s low speed limit for growth “affects my ability to make decisions” and that Brexit has changed the unit of account and the use of sterling as a unit of account in export and import trade.

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