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Carney Says Brexit Has Cost Economy `Tens of Billions' of Pounds

  • Says U.K. could ‘recouple’ with global economy this year
  • BOE governor says weaker investment holding back growth
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Brexit Might Have Cost U.K. Economy Billions in Lost Output

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Bank of England Governor Mark Carney said Brexit has already cost the the U.K. economy billions of pounds in lost output and it’s not benefiting yet from a global pickup.

Asked in a BBC radio interview to quantify the damage from Brexit, he said the economy is now about 1 percentage point smaller than it would have been had the 2016 European Union referendum gone the other way, and that the gap will widen to about 2 percentage points by the end of the year.