November 14, 2017 / 11:18 AM / a year ago

BoE to stretch out horizon for reining in inflation due to Brexit

Central Bank Governors Mario Draghi of the European Central Bank (ECB), Mark Carney of the Bank of England and Haruhiko Kuroda of the Bank of Japan attend ECB's Central Bank Communications Conference in Frankfurt, Germany, November 14, 2017. REUTERS/Kai Pfaffenbach

FRANKFURT (Reuters) - The Bank of England will stretch out the horizon over which it plans to rein in inflation to support Britain’s economy as it adjusts to the country’s exit from the European Union, BoE Governor Mark Carney said on Tuesday.

“These are exceptional circumstances that the UK is operating in,” Carney told an ECB conference.

“During these exceptional circumstances we will stretch out the horizon over which we return inflation to target ... in order to support the economy in the adjustment process.”

Reporting by Balazs Koranyi and Francesco Canepa; Editing by Catherine Evans

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