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Bank of England warns Brexit would hurt H1 growth

CCTV.com

04-15-2016 00:12 BJT

The Bank of England decided to keep its policy rate unchanged Thursday. The central bank also describes Brexit as the biggest financial market risk at home.

BOE policy makers maintained the 375 billion pounds of QE asset purchases. The central bank doesn't want to bomb the market with more uncertainties, because they say investors are already in a Brexit panic. 

In the BOE Janurary minutes, policy makers say concerns over the potential exit is likely to hurt first half growth, as sterling priced assets would fall and the currency itself would suffer. 

Much of the UK's production would have nowhere to sell to. For the first time, rate setters said they had seen signs that the upcoming Brexit vote was affecting business decisions, with a striking fall in commercial property sales, delayed investment and fewer company listings.

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