November 14, 2017 / 11:23 AM / a year ago

Bank of England to stretch out horizon for reining in inflation due to Brexit

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.

Governor of the Bank of England Mark Carney sits before delivering the Michel Camdessus Central Banking Lecture at the the International Monetary Fund in Washington, U.S., September 18, 2017. REUTERS/Joshua Roberts

“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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