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BoE may adopt more stimulus to deal with Brexit blow

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BoE may adopt more stimulus to deal with Brexit blow

The Bank ofEngland is expected to adopt additional stimulus measures to dealwith the impact of Britain's decision to leave the EU.

Governor Mark Carney said July 12 that the Brexit vote couldprompt the central bank to act, Reuters reported the same day. The newswirenoted that some investors expect the central bank's monetary policy committeeto announce a rate cut as soon as July 14, while many economists say the panelmight wait until their next policy announcement on Aug. 4 in order to have aclearer idea of the vote's impact on the economy.

"If the outlook has worsened, to use that term, in thejudgment of the MPC there always could be monetary response if that isconsistent with its remit," Carney reportedly said.

Meanwhile, a growing number of investors and economists saidthe BoE may emulate the ECB and announce a program to purchase corporate debt todeal with the impact of the Brexit vote, the Financial Times also reported July 12. The expectation comes as theECB program helpedreduce borrowing costs for companies.