A no - deal deal will result in " dire consequences " for the UK , including reduced growth , an increased budget deficit and a depreciation of the pound , according to Christine Lagarde , the managing director of the International Monetary Fund ( IMF ) . The IMF 's latest report said the UK will need to " safeguard macroeconomic and financial stability " in the event of a no - deal Brexit , while the Bank of England would need to take steps to maintain liquidity within the financial system .
A no-deal Brexit will result in "dire consequences" for the UK, including reduced growth, an increased budget deficit and a depreciation of the pound, according to Christine Lagarde, the managing director of the International Monetary Fund (IMF). The IMF's latest report said the UK will need to "safeguard macroeconomic and financial stability" in the event of a no-deal Brexit, while the Bank of England would need to take steps to maintain liquidity within the financial system.