Pound Could Fall ‘Sharply’ on Brexit, Says Boe, as Mark Carney Accuses Vote Leave of ‘Fundamental Misunderstanding’

by Peter Spence, Economics Correspondent

The value of the pound could fall “sharply” if the UK votes to leave the European Union, the Bank of England has warned.

A decision to withdraw from the political bloc “appears increasingly likely… [to mean] sterling’s exchange rate would fall further, perhaps sharply”, the Bank’s monetary policy committee (MPC), which decides on interest rates, said.

In the minutes of its latest meeting, at which the MPC decided to leave interest rates at their record lows of 0.5pc, the committee also cautioned that there was “growing evidence that uncertainty about the referendum is leading to delays to major economic decisions that are costly to reverse”.

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