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Carney talks of summer rate cut amid slowing economy

Bank of England chief confident the UK can adapt - but hints rates may need to be cut to boost growth

Mark Carney
Mark Carney Photo: Getty Images

Mark Carney has declared his confidence in the UK’s ability to successfully adapt to a future outside the European Union, delivering a message of reassurance on June 30 despite saying that growth will slow in coming months and that further cuts in interest rates and other measures will be needed.

In advance of the UK's June 23 referendum, the Bank of England had warned that growth could slow as consumers and businesses responded to heightened uncertainty by cutting spending. In a speech to business people and bankers, the central bank's governor said that was now the Bank's expectation.

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