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Brexit shock will hurt pound, slow economy in short term - BoE's Carney

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10/10/2019 | 07:40am EDT

MARGATE, England (Reuters) - Bank of England Governor Mark Carney said the bigger the shock to Britain's economy from Brexit, the more the value of sterling was likely to fall.

"Big picture - the more severe that Brexit is, in the short term, it's likely to lead to a lower value of the pound, a higher level of inflation and slower growth in the economy," Carney told reporters.

"We will do what we can to support the economy during that transition," he said after an event to unveil a new 20 pound banknote.

(Writing by William Schomberg, editing by David Milliken)

Stocks mentioned in the article
ChangeLast1st jan.
EURO / BRITISH POUND (EUR/GBP) -0.46% 0.862 Delayed Quote.-3.94%
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