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IMF welcome Bank of England's calming measures

The managing director of the International Monetary Fund (IMF) has welcomed the measures taken by the Bank of England to "guard against excess volatility, and to provide what is necessary".

Christine Lagarde said it will be "some time before we know the nature of the future relationship between the UK and the EU", and stressed the importance of "clarity on the negotiation process" to make the transition as "smooth a manner as possible".

She added: "IMF for its part will continue to monitor the development closely and will work with our members to ensure the resilience and stability of the global economy in the period ahead."

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