No-deal Brexit slows growth to a crawl: Central Bank

Britain crashing out of the EU in October will lead to a dramatic Irish economic slowdown and force households to cut back on spending, result in 34,000 fewer jobs and lower wages and shortages of consumer goods, as well as a potential full-blown sterling crisis and a big hit to rural Ireland and its agriculture and food processing jobs, the Central Bank has warned.

Its new forecasts come as the election of Boris Johnson as British premier significantly upped the risk the UK will exit the EU at Halloween with no transition deal. It has also led in recent days to a new run on sterling, which immediately piles the pressure on Irish food exporters and small firms.