October 10, 2019 / 11:42 AM / 6 days ago

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

FILE PHOTO: A bank employee counts pound notes at Kasikornbank in Bangkok, Thailand, October 12, 2010. REUTERS/Sukree Sukplang

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

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