Bank Of England: Brexit Could Reduce Growth, Send UK Pound Down ‘Sharply,’ Governor Mark Carney Warns

The Bank of England has warned unambiguously of sobering economic consequences if the U.K. votes to leave the European Union in an upcoming referendum, citing the possibility of lower consumption, higher unemployment and an aggregate contraction in growth.

Among all the risks to the U.K.’s economy, splitting from the EU ranks as “the most significant,” the Bank of England’s monetary policymaking committee reported.