Now there's a surprise. 

After leading the charge of economists and institutions during the pre-Referendum 'Project Fear' campaign, Bank of England governor Mark Carney is backpeddling and painting a rosier picture of the future.

In fact, he now says the biggest Brexit risks are not faced by the UK, but by our European neighbours.

And of course he takes some credit for the swift actions of the Bank in the weeks following the Referendum last June.

It will be interesting to read the new Bank of England forecast when it is published next month and find out to what extent the outlook has improved.

Investors should however not consider Brexit risks to be entirely absent. 

What Carney seems to be doing now is repositioning following his original doom and gloom forecasts which few believed were anything other than politically motivated.