There are now less than two years left to negotiate an agreement with the EU and to prepare for life outside the union. According to the British bank, 65% of its clients think that a disorderly Brexit is more likely than an orderly one. And, as Barclays points out, recently heighted domestic political and economic uncertainty does not help.
The conservative government's poor performance in the election has cracked open the range of perceived outcomes for the negotiations. And while the economy has defied gravity thus far, this will probably not last according to the UK bank: as wages are not growing as fast as inflation, consumption is expected to slow to a crawl over the coming quarters, pressuring the pound.